Gold price is trapped inside a long-term triangle pattern that will either give the price a push higher towards $1,430 or a decline towards $1,280. Trend is neutral, and traders should be patient and sell near resistance or buy near support.
The blue lines - price projection
As I mentioned above, the gold price is consolidating inside a triangle pattern. Price will soon give a buy or sell signal according to the direction of a breakout. Safest strategy is to wait for a break and then open a position targeting either $1,430 or $1,280.
