© Dukascopy Bank SA
XAU/USD has recently breached the pattern's support at 1,283.56 but a breakout did not follow as the yellow metal managed to return to the triangle area. In the hours to come, gold is likely to gain more ground given that almost 70% of traders at the SWFX are bullish on the instrument. Dwelling on the potential advance, we add that proximity of the apex may even turn the expected jump into a bullish breakout.
© Dukascopy Bank SA