Is Gold Ready To Explode?

Watching gold's movements for the past few weeks and the increasing drama unfolding in Europe has me wondering - is gold preparing to explode upward?

The critical support level it needs to exceed is $1786 in my view.

Notice that the 20 day MA has just touched the 200 day MA of the Gold Bond ratio. A move above this level is bullish.

We are getting very close to the $1786 resistance level. If we exceed this level for even a few days, then the point and figure projection of $1900 to $2040 gold is confirmed, in my view.