Gold may hesitate now one or two more weeks with the final break of the 4th staying within the lines of the 4th during one or two weekly candles.

But the next weekly up target of 1795 is really just a question of a very short time. At the latest till Christmas 2012 the fourth, decisive test of the 1800 area should occur.

The up potential for the actual gold uptrend till spring 2013 is "gigantic", from my point of view.

For fathoming out the possible spring 2013 tops, apart of the W.D. Gann method also the conventional chart technique helps us. The big question for us will have to be of course: "Is it truly going to appear as the following H-bomb is developing and feeling??":

So far the extremely bullish Cup with Handle in the daily chart has been developing like in the text book. In this pattern it takes an average of 23 trading days in the daily chart until the handle has formed completely.

For gold it took 25 days until the upper resistance trendline of the handle was broken. On Friday the consolidation that had followed the handle breakout was left upwards. The rise back to 1800 is now underway.

Not before the 1800 resistance is finally broken, the Cup with Handle pattern will be confirmed, and thus the probably maximum up target at 2065$ will be finally activated as well.

This 1800 may thoroughly hold until February 2013, but from my point of view something like this is not very likely: Strong seasonal influence, the GUNNER24 Weekly Setups fire off one buy signal after another.

Overcoming the monthly 1755 resistance will activate a GUNNER24 Minimum Target of 1843… The GUNNER24 Main Target is situated at 1885.

But if this really happens holding the 1800 until February, the outlook for all the precious metals – respecting the whole year 2013 – will be rather dreary for the time being.

In terms of chart technique in that case a quadruple top at 1800 would be present involving considerable downwards potential – not only for gold.