Wed, 17 Aug 2016 07:34:03 GMT
XAU/USD 4H Chart: Triangle
This is the seventh week gold consolidates within a triangle. In fact, the price is approaching the apex of the pattern, meaning we should prepare for a breakout. Considering that the triangle emerged after the Jun 2—Jul 5 up-move, the upside risks are greatly increased. A rally appears even more probable because of the technical indicators, where bullish signals dominate