"The long-term up-trending trading channel continues to define the price activity," Daryl Guppy notes
"The long-term up-trending trading channel continues to define the price activity in gold
," says technical analyst Daryl Guppy in a recent CNBC report. "A price move above $1,800 has a high probability of developing into a fast rally and moving quickly to the next resistance level." ...
"A sustained move above the value of trend line A is required before a change to a new uptrend is confirmed. A breakout above resistance near $1,800 and a breakout above the value of trend line A shows a high probability of gold
continuing to rise and trade inside the trading channel.
"This points the way to higher prices and a steady resumption of the long-term uptrend. The price must be able to breakout above the value of trend line A before this can be defined as a trend rather than just a rally."