Will Gold Breakout Higher?
The precious metal was seen consolidating near the 1900 level. Price action previously tested this level before pulling back recently.
In the process, we have a potential ascending triangle pattern emerging. If the 1900 level of resistance breaks, then we expect to see further gains coming.
A breakout above 1900 will validate the bullish ascending triangle. It puts the next minimum target in price action toward 1922 at the very least.
But this would also put gold prices above the 1900 level which has proven hard to break as both a resistance and support level previously.
Reprinted from ActionForex，the copyright all reserved by the original author.
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