Gold triangle points towards further gains
Gold is trading within a symmetrical triangle formation, following a sharp appreciation on Friday. This rally works in favour of our bullish short-term and medium-term outlook and as such, further gains are likely. Essentially, we are looking for an intraday close above $1352 for a bullish continuation signal.
Otherwise an hourly close below $1346 would point towards a deeper retracement, with $1344 and $1338 the next key support levels.