I am looking for a pullback in gold to $1407, and that pullback could be repeated after that, too. What I mean is, after it pulls back this time, it may test resistance at $1440, and turn right back to support. Many times gold, silver, platinum, and oil will pullback not once, or twice, but three times. After the third is when it generally moves higher. Also, the more and greater one of these assets is pulled back, the higher it goes. Think of it as that which pulls it back gives it the energy to snap it forward, like a catapult.
Back in the 60's the world gold council tried to reign in the price of gold while moving finance into a fiat standard. They sold tonnes of gold on the open market in hope to subdue demand. It worked for a few months, but within a couple years the gold price started moving drastically higher. Then the solution was to sell more gold, nearly flooding the market. Did that stop gold's rise? No, it was only when all the appointed leaders, however appointed they were, held hands with Richard Nixon and agreed to sell T-bills for dollars.
Silver has had a similar story of late with the House of John Pierpont Morgan shorting it in manipulation. In fact, there are many shorts on gold too, but silver is the sleeper. None the less due to strong gold demand and questionable supply, silver has broken out again and again. $36 was a long term target of mine and so I think it will test this range for a while. In the meantime, gold will slip through its range, from $1407 at the bottom to $1440 at the top. The Trinity will break out in the next few weeks, after testing support onced, twice, or maybe thrice.