Gold:XAUUSD Breakout is serious. Despite short term resistance from last high this looks good for 1303 and higher still over coming weeks.
thought this rally was going to be independent of dollar weakness but was very wrong. Gold is still dancing to DXY tune. it's now come back to test the rising support line from above and must hold here at 1281.4 to avoid falling back down to the long term falling resistance line from the old highs at 1271 where it should bounce once more. So far price action down from the recent high looks like backing and filling - but gold must hold up at 1281.4 to 1281 to avoid a further 10 point fall from here