XAU/USD: Gold price attempts to breakout at 1224.30

Denis Joeli Fatiaki Independent Analyst

Gold prices bounced after dipping below 1217.40 support and the bearish triangle since my last update in yesterday session but managed pierced through two resistance points and reached the highs of 1228.60 before retreating into the triangle and closing at 1224.00. XAU/USD currently trades at 1224.30 and is now looking to break out of the triangle price pattern and possibly retest 1227.15.

XAU/USD will need to break and maintain above 1227.15 to confirm a change of direction to the upside.

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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