Gold traders are awaiting the next major directional move as the yellow-metal is currently trapped inside a triangle pattern on the four-hour time frame. Looking more closely at the pattern the triangle is found between the $1,775 and $1,790 area. If gold stages a confirmed breakout under the triangle pattern sellers could target the $1,730 level over the coming days.
XAUUSD is only bullish while trading above the $1,820 4level, key resistance is found at the $1,840 and the $1,870 levels.
If XAUUSD trades below the $1,820 level, sellers may test the $1,760 and $1,730 support levels.
