Watch for Bull Flag After Accumulation

Gold on a higher timeframe appears to be going parabolic but for now it seems likely that we will first see some accumulation in the form of a flag or pennant. The crucial areas of support are between 1960 (38.2 Fib) and 1970 (Yearly R1 Pivot) with the interim target after a break being the Yearly R2 @ 2100.