Wed, 21 May 2014 06:59:59 GMT
XAU/USD 1H Chart: Triangle
Since early May, the yellow metal has been forming a triangle pattern that now is more than 240-bar long.
Currently, the bullion is sitting slightly above the 50-and 200-hour SMAs at 1,295.37. In the hours to come, the most traded precious metal may bounce off this level and follow a distinct bullish trend given that over 70% of positions on