We have been watching this form up for some time.
The targets for a breakout are on the chart.
It works when we hold the lows and breakout over the neckline and stick it on a daily chart. Since much of the gold action is the inverse of the US dollar which is benefiting from a short term squeeze we think the targets may be conservative as the shorts scramble for scarce supply to cover.
The wild cards are the central bank market meddling and a potential 8-10% downdraft in equities which tends to foster liquidation selling of most assets.
