The chart shows:

I also note Ben Davies's comment in his latest interview with Eric King last week, where he suggests a pause in August is in the cards. Gotta admit the guy has a pretty good track record.

....BUT....why does the top of the channel start at the peak in 1999..? Why not use the peak in 1998, 1997...or even better, the peaks in 2001 (when the BULL started its breakout!) 2006 - 2008 and up from there. That would give an upper bound resistance of around 2500 (estimated)...!

Seems kind of arbitrary to me picking a peak before the bull even started, when noone was even holding any gold. Why should those buyers from 1998 figure into the uptrend resistance at all?! jmho.

lotus petals,

gildage