Comparic

GOLD D1 - break out of long term trend line

TVC:GOLD   CFDs on Gold (US$ / OZ)
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Gold just broke out of an 11-month long trendline. Right now Gold is testing the important $1,300 level. If the current level is not broken, then Gold would create a double top pattern which would push it lower, back down towards the recently broken trend line .

Momentum right now is bullish on the yellow metal, but as I stated above, it could find resistance at the current levels.

The $1,300 level is crucial at present time, but if Gold finds the strength it needs to break it this week, then a very strong bullish run could be expected.
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