Here is the Dec Gold chart. Nice looking breakout over the downtrendline and over the late April rally high. That is a breakout. BUTTTTTTTTT considering the end of the month trading AND Friday trading AND the last day before a long 3 day weekend AND the short covering by many who didn't expect positive news by Bernanke's scheduled comments AND thin volume on most everything one must question the validity of the breakout. And all breakouts must also hold above the breakout point to confirm this wasn't just short covering etc. So the next few days will confirm the breakout or pull back below the breakout. Tuesday's close should give an indicating of what was real and what was panic short covering and thin trading price action. But the chart pattern was bullish and did breakout of a bullish pattern and pulled back in classic fashion to the broken downtrendline like they tend to do after a breakout in a tight pullback Flag and then blasted off Friday. Picture perfect really. Only question is how valid Friday's price action was. If it's for real things look very bullish ahead. So far price has had a Fib 38.2% retracement of the Aug/11 to May/12 selloff. Gold often has a Fib 61.8% retracement which would see price run back up to the 1800 price resistance point.