Understanding GOLD in Monthly Time Frame

The monthly time frame plays a vital role in long-term behavior of the price of GOLD. It has also influence in the short-term. The breakout of the 1996-2000 resistance level has now seems to be turned into a support level. In this case, for swing long trades, re-test and bullish closure above the 1996 levels might be the sign of testing the highs at 2080 levels. I will be watching out carefuly for these levels for swing trades. The price might have a pullback to 1996-2000 levels in the following weeks so be careful about early long trades.