XAUUSD (1228.15): Gold prices continue to consolidate around the 1225 – 1219 levels. However, on the 4-hour chart, the ascending triangle pattern is signaling a potential upside breakout. With the resistance level formed at 1235 region and the minor rising trend line that is holding the higher lows being formed, a potential upside breakout could trigger gains toward the 1250 handle. To the downside, a breakout from the rising trend line could send gold prices to test the horizontal support formed at 1219.
