Gold long term monthly view: The market sits at an interesting confluence of technicals, all significant, and how they break or hold could show us the next move. At the current market location we can see gold just coming up to a purple long term monthly target. Around this area we can see: (1) purple channel resistance; (2) a long term blue s/r that originates from the highs of the market in 2011; (3) several ma's.   Lifting up on top of these and finding support from them would be an indication that more lift is possible.  Just above the market we can see a convergence of ma's and BB's coming together at a blue s/r: this is around the $1360.00 and would be the next significant up target level to look towards.   Above that we can see $1470.00 as another potential level to look towards should the market continue to lift.

IF the market falls through and find resistance from the significant technicals mentioned, then we would look for further drop from the market, potentially taking it all the way back to the purple channel's lower support ($920.00).  There is another significant level before this that should be watched first: the previous low and blue s/r zone around $1060.00.

The indicators are really no help: both are in positions of a break up, or a fall off again... as is the general market.  Either way (up or down) when the market does show its hand there will be a potential for significant moves.

Weekly View: As we drill down in time frames we can see further potential opportunities, as well as what technicals need to be moved through for the moves discussed above.   We can see a wedge pattern for the recent movement (highlighted in orange).  A break of this would be our first clues for the next move.  Note also the two blue s/r bands that held the market (yellow highlight): breaking above $1310.00 or below $1130.00 offers potential trigger considerations, for a move at least to the next technicals and a warning for the next larger move.    Note the large purple targets: these have been carried over from the Monthly chart.  Smaller blue Weekly HPTZ's can also be seen as places to look towards as the market moves.

 

Daily: Zooming in closer still and looking at the daily we can see more potential opportunities as the market moves through the technicals.  Solid orange highlights significant technical levels, orange dashed arrows highlight potential technical moves to consider once one technical has broken... in general we expect it to move to the next technical and the market road map that the HPTZ method sets up identifies with high accuracy the next technicals you want to be aware of. Note the really big purple targets now from the monthly time frame, we can also see large blue targets from the weekly time frame, and finally the small green daily targets from this time frame.  These also give us something to look towards for the next market moves.

The recent lift appears to be an expanding wedge and breaking from this will give us clues for the next move.  There are several different technicals inside the pattern that can be used for shorter moves, as well as the highlighted technicals that I identify.  Your own risk tolerance and style decides what technicals you use, what opportunities you want to take risk on, but ultimately the road map offers something for any style/risk/trade/investment desired.

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