Tom Fitzpatrick tells King World News:
“... We would also like to see gold break out against its downtrend line and the 55 week moving average. The 55 week moving average on gold is currently at $1,672 (see chart below), and if you look at the downward move that took us to the lows of $1,526, that actually began from around $1,672.
"A weekly close above $1,672, if we could get it, would signal to us that we have broken out of the triangle and would open up for a retest again on what we believe is the bigger level at $1,791 on gold. ..."