Hoye’s mob have put out a piece that is hinting at a new high in gold later in the year , it’s Ross Clarks side of the fence which is more pure TA so I wouldn’t bet the farm on it, he is looking for a high in this run of 950-960 and then a mild pull back and then a run at a new high later in the year. If you look at the link below (an old one) look at the 2002 example , he is suggesting (using the Megaphone pattern that we are headed into something like the Nov 02 peak then a pullback then a new leg up. , the alternate is a pullback to 800ish which I think doesn’t invalidate the pattern.

http://www.321gold.com/editorials/ho...