$1,140 Resistence Broken

Over the last few days gold has broken above the $1140 resistence line which increases the possibility that we may be at the start of the next leg up.

According to David Levinstein of Lakeshore Trading, "The price of gold recently broke through a resistance level of USD1140 as can be see in the area encircled in blue. The long-term and short-term indicators are all positive indicating a potential move to the upside of at least another US$60 – US$80. This will be a re-test of the previous all time high. And, I believe that we will see this shortly."