1. - Price may be forming a symmetrical triangle - commonly known to be a continuation setup - previous break out of the descending channel points to a bullish breakout
2. - Previously resistance found at 1255 (not sure if this is Psychological level or not?) - This level now may have turned to support with price recently bouncing off it during the possible symmetrical triangle formation
FUNDAMENTALS:
- Alot of high volatility news items for USD including FOMC minutes, ADP non-farm employment figures and ISM Non-manufacturing PMI. - Trade with care as could be some big moves prior/during the releases - However as well as these alot of geopolitical tensions at the moment are proving very negative for USD including: - The North Korea tensions - Tarriffs
Therefore overall my expectation is for Gold to continue bullish hopefully.
Appreciate any thoughts/comments, Thanks for reading,