After about two months of consolidation, gold has touched the red evolvent from which it immediately rebounded: this confirms not only that the structure is perfectly aligned to a bullish view, but that the red evolvent represents exactly the support to be monitored.

In the last few months, the gold/silver ratio has always remained in a range between 82-86, but the bearish wedge pattern makes possible a sudden fall in the ratio, which would favor silver in a surprising way.

In my last report, I signaled a technical structure with a rounded base and the weakness was still physiological but in perspective the second half would represent the ideal period for the breaking out of the resistance in the area $1350...

Since the 1980s, gold has a cyclicity that develops with a 15 year-old periodicity among the tops: beginning from 1980 (1st top) after 15 years we had the 1995 followed by the top of 2011.

Starting from the data of the ‘70s it is possible to elaborate a graph (on a logarithmic scale) that highlights a huge cup with the handle and that respects a cycle of minimums every 15 years.

The gold is completing a long rounded base and for now is making a series test of trendlines: at the moment the indicators still sustain a bullish structure that will be confirmed to the breakup of the descending trendline from the top of the 2011.