XAUUSD (1209.03): Gold prices were seen gradually inching higher. However, price action continues to remain trading subdued for the most part. The long-time consolidation at the current levels likely indicates a potential breakout to the upside. The resistance area of 1212.20 remains a key price level. A breakout above this level will trigger the ascending triangle pattern. The minimum upside target is seen at 1238.00.
