The D1 (fig 1) XAUUSD chart below shows the range-bound trading has continued through the end of last week. The failure to reclaim $1,700-per-ounce by the gold bulls has seen a flat market with no clear near term directional bias. Any sustained breakout above this range would likewise represent a break above the descending trend line originating from the November swing high area. The (fig 2) H4 chart shows the a triangle consolidation pattern has formed. We also note there is a Fibonacci confluence area comprised of a 38.2% and 50% retrace that held price on the last attempt higher around ... (Read the full story)
