Gold Strength intact breaking triangle pattern
After breaking out from the symmetrical triangle pattern, a minor
correction was seen on the daily chart. The upside in the yellow metal
resumed and it is trading above the daily moving averages. The momentum
indicator MACD is on the bullish end on the weekly chart, which signals
strength on a higher timeframe. Once the recent swing high of $1764 is
taken out the potential upside for gold is placed at $1920 which is the
previous high.
