Gold has formed a classics head and shoulders bottom that has been 6 years in the making.
For the past six years, there was nothing to be said about gold from a technical analysis perspective. Gold is about to have a weekly closing price well above its former resistance level. The bear market in gold is over. Within the next few years, gold will make a challenge to its all time high.
In the short term, far to many cheerleaders are coming out of the woods and jumping on the gold band wagon. A pull back to 1380 is likely.