Gold Goes Boom as High Trend Resistance is Bulldozed by Bulls

Yahoo Finance—

"Taking a step back and viewing the wider perspective of the yellow metal's history within the technical analysis, we can see that in 1999 a slow inclination was present stretching across the period of just over a decade, reaching its peak in 2011. The topside run was then posed by a 50% pullback over the next eight consecutive years following the high of 2011, prompting Gold to spend many recent years in a state of consolidation. This was until we hit 2019 where Gold has seen highs reminiscent of eight years ago....This week bullish efforts have been able to bulldoze through Gold's resistance and for the first time since 2013 Gold was trading at huge highs of above $1400. So why has Gold gone boom and is this trend set to continue? Events in the headlines clearly contributed to the events of last week and continuing onto this week, with the Fed and the Central Banks clearly holding onto a dovish posture...this could indicate that there is a further top side to come for Gold in the up-and-coming weeks if the trend is to continue with similarity."