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Gold at a key junction, top side of a triangle pattern – Varengold

FXStreet (Barcelona) - The Varengold Bank Research Team uses 4H charts to give the technical outlook and key upside and downside targets for XAU/USD.

Key Quotes

“Technically gold is, at the moment, in the top side of a triangle pattern. If the price breaks the pattern below, the projection could drop the price to 1147, coinciding with an important support. Before that, 1175 is also a support to take into consideration.”

“On the other hand, if the price breaks the top side of the pattern, the projection could go to 1247, once beat the 1223 resistance.”

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