Is Gold Testing Resistance Just Prior To A Massive Run Up – Trade Of The Day

We have discussed the chart above many times before. As is evident, Gold was tracing out a massive long-term compressing wedge/triangle. Breaking out of it to the upside over the last few weeks. Since then Gold has retraced its move up to test prior resistance (upper red line). Traditional technical analysis suggests that as soon as this test completes, Gold will be ready to fly to the upside. Is it that easy or is something much more sinister is in the works? To see our entire Gold analysis please Click Here