If the price can get through the 20dma that will be incredibly bullish. Even if the price does not get through on the 1st attempt, it is not indicative of the trend changing. For trend reversal we would be eyeing a move to 1800-1830 before that could even be a consideration.
We saw a remarkable trend here in the bollingers, and tapping the 20dma is by no means suddenly ammo for calling for Gold at 1600's or even 1200's like I am reading. We would need to see deflationary measures to even forecast that as potential headwinds - July CPI rising 0.6% vs expectations of 0.3% is an environment still very risk on in gold.
We saw a remarkable trend here in the bollingers, and tapping the 20dma is by no means suddenly ammo for calling for Gold at 1600's or even 1200's like I am reading. We would need to see deflationary measures to even forecast that as potential headwinds - July CPI rising 0.6% vs expectations of 0.3% is an environment still very risk on in gold.