Stock Chart: Gold

Gold have been in the long term bearish since no tapering on the QE announced on September. Everyone seem to shift their fund into US stock market and causing Gold to become unattractive. However people will start wondering when will gold rebound and gain back his honour in the commodity world. Perhaps when gold really drop all the way to 1000usd/oz or when FED really announce their tapering in the next coming event which fall on next year March 2014.
However base on TA point of view, from the 4hour chart, we can see that gold have a false break out on the first yellow circle but rebound back to go for a second try to break the resistance. If it success to break this resistant, we shall see gold price will head towards 1258 follow by 1278 and a correction on DJI.

All trade is about probability, if you are keen in this breakout, please plan for your own risk.

Entry: 1245
SL: 1230
Target: 1258/1278