Gold/Breakout of Consolidtion/At Resistance *PIC*

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Here is the Gold chart again. Gold sold off from the Dec highs to a Fib 38.2% retracement. That was also its 21 month uptrendline. Price then broke up over its downtrendline and met $1352 price resistance and then cleared this price resistance and consolidated above for a week in a tight bullish range. Price since has broken out of this range and run up to the next resistance price pt at the mid Jan highs of 1393 and backed off today. Clearing 1393 would suggest a run up to double top of 14.24 next. Resistance levels must be cleared each time to confirm a further rally. The Modified MACD is not participating in this rally yet and is a concern. But the technicals are matching the July technicals perfectly so far. Meanwhile resistance is resistance which was hit today at 1393.

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