Gold price oscillates inside Wednesday’s trading range. The broader trend of the precious metal is sideways, trading in a Symmetrical Triangle, which could break out in either direction. However, the odds marginally favor a move in the direction of the trend before forming the triangle – in this case, up. A decisive break above or below the triangle boundary lines would indicate a breakout is underway.
The downward-sloping border of the Symmetrical Triangle pattern is plotted from the December 28 high at $2,088, and its upward-sloping border from the December 13 low at $1,973
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