Courtesy of Chris Kimble.
Since the 2011 highs, Gold futures have created a series of lower highs and lower lows inside of falling channel (1).
The rally since the lows in 2016 has Gold facing the top of its 8-year falling channel at (2). This test comes into play as resistance for Gold, something it has struggled with for years.
Gold bulls would receive a rare long-term bullish message if it can break out at (2)!
Is the 8-year drought in Gold about to end? Keep a close eye on how Gold handles this breakout test at (2) friends, as this is one of the more important price points in years for it!
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