The final trading day of the year witnessed a soft breach of the trend line that forms the top of the Falling Wedge chart pattern. As holiday trading tend to bring light volume and the absence of momentum trading, the start of trading next week will likely cement the move as a definitive breakout or else fail by reversing back into the wedge.

A follow-through of the current rally would lead the price towards the projected target range between $28.53 and $29.14 per ounce. This is a longer term key resistance level which also will need to be overcome for a sustained long term rally. Weaker trade to begin the year may signal a retest of the wedge's bottom with a bearish return to the $25.00 per ounce level.
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