Gold is back! Well, not just yet. It has started the initial sequence of a potential move higher. In the bull market, this metal takes a hit for the reason of the dollar getting stronger. Its value depreciated and has started to show signals of stability. The chart is showing that it is forming a lethal reversal signal. The inverse head and shoulder pattern is a very reliable chart pattern. It is starting to shape its final shoulder to make a push towards its neck line. This pattern shows that if it can make a close above 105, it will very likely make its way to 110. The most recent candle is a spinning top. This indecision candle can be viewed as a continuation signal of a current trend. The gold rush is in its infancy and the clear buy signal will be a close above 105.
![1 year Chart Porn of Gold ETF GLD WinCrease.com 1 year Chart Porn of Gold ETF GLD 1/5/16](https://i0.wp.com/www.wincrease.com/wp-content/uploads/2016/01/GLD-1-5-16.png?resize=697%2C349)