Critical level for Gold

Gold is at a critical level right now. The 50% retracement from the previous high will be a resistance line to overcome. If it breaks and leaves the channel the next stop is the 61.8% retracement at $900. If the 50% level holds, the last two years however also could look like a bull flag and a trend reversal at 50% would not be unheard of. Historically the 1 sigma bollinger band gives a good indication if we are in a bull or bear market.