The Gold Bull Is On Its Way

Almost a year ago there was great excitement when gold made an important breakout from the downtrend (blue line) since the 2011 peak:

This is now long gone, since the price did not really go anywhere since then. However, the intent(to go higher) of the gold price has not gone away. In fact, it appears to be setting up for a major rally.

Since the breakout, we've had two pullbacks to the breakout area. Nothing unusual about that, except that the pattern is so huge - makes one forget about the process.

It is very likely that we could see price move higher over the traditional gold season (August/September), especially when it moves out of the top of the triangle (dotted lines)

This is not financial advice, do your own due diligence. I am not responsible for your trading decisions.