Golds MAJOR breakout above 4200$ signals a push towards all time highs?

After a 2 month consolidation between 4200$ and 4000$, Gold has finally seen a breakout. And it’s a bullish one aswell. The break above 4200$ and hold signals a bounce at least for the short term. The first area of interest is 4360$ , a previous resistance area. Now if price manages to pull above that level , then bulls may be able to push price as high as 4500$.

For bulls , the case is simple : Hold 4200$ an area we have already successfully retested in the last couple of hours.
For bears : you would want to see a break below 4200$ with major red engulfing candles.

Remember , the trend is your friend until the end. At the moment, the trend is bullish. So better watch out on the shorts.

Hope you liked today’s anaylsis. Make sure to follow for mire.