Gold in its before-last phase of a 3 year accumulation.

With the closure of the current sideways BU/LPS move to the upside, it would initiate the phase E of the accumulation with a break and mark up towards an ATH.
From that point on we would see how price maintains itself above the 3 year resistances and if in turn, rejection is too strong and we enter a long term distribution scenario.
I believe it to be highly unlikely however as the fundamentals driving gold bulls at the moment are very strong.