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Gold finished triangle consolidation, ready to resume up trend?

ActionForex
By ActionForex

Gold’s break of 1723.36 resistance overnight suggests that triangle consolidation from 1747.75 might have finally finished. Focus is immediately back on this high. Break will resume larger up trend. 61.8% projection of 1160.17 to 1703.28 from 1451.16 at 1786.80 will be an important hurdle to overcome. Sustained break there could prompt upside acceleration for the medium term. Meanwhile, break of 1711.14 minor support will dampen the bullish case and bring more range trading first.

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