For nearly two years, gold has been accumulating in the channel between the white lines. Looking even further back, gold has been in a declining wedge for nearly four years. Within this wedge, there appears to be a discernible pattern. I have highlighted it in white. This pattern appears to be repeating only in a much smaller scale. It too is highlighted in white. This pattern or cycle culminates with a double bottom followed by a bullish run. Looking at this weekly chart, there is a good case for a potential double bottom. Also, Williams %R indicates gold is deeply oversold. I am looking for gold to make it's way north near the top of the channel in the coming weeks to a price between 1300 - 1350 confirming this double bottom.