Gold- A Bullish Pattern has formed
Gold has broken out of a symmetrical triangle- a bullish pattern on a 30 minute time frame. If this pattern does play out completely then it could easily reach near the 1440 resistance level. The price is trading above the 50-day (shown in green) and 100-day (shown in yellow) moving averages which means the bulls have finally taken the control. However, the RSI is not so bullish and it is trading in line with the price action which means bias could be to the downside.
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