SantanderCapital

XAU/USD Symmetrical Triangle

FX:XAUUSD   Gold/U.S. Dollar
178 2 3
Chart: Daily Time Frame
Market: Bullish Trend

Bullish Indicators:

1. Symmetrical Triangle
2. Higher lows & lower highs (red circles)
3. Price ranging key weekly/daily support level @ 1220 zone

Bearish Indicator

1. High test candle (21/4/2016 candle) found at triangle resistance


Price is consolidating between 1216 and 1270. We're expecting an upside break to reach 1294,
however we need a bullish candlestick pattern or a break of the upper triangle resistance level
before a position can be entered.

Note: On the sidelines until a signal is confirmed.

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