The yellow metal and a triangle..........>

GOLD TECHS: The yellow metal and a triangle formation:

- Gold bulls have paused for breath since the peak at $1747.4 on Apr 14.

- A triangle pattern appears to be developing on the daily chart.

- Triangles are by definition a continuation pattern, so this feature reinforces

an underlying bullish theme suggesting an eventual break to the upside.

- Typically, triangles contain 5-legs or waves. The end of the 5th wave is also

a timing signal when attempting to identify when a trend is likely to resume.

- Currently, if correct, the yellow mental is trading within a wave-4 recovery.

This means a downleg following wave-4 will likely represent the fifth and final

leg of the triangle before the uptrend resumes.

- Key levels to watch:

1. 1659.6, the Apr 21 low and key support. A break would signal a reversal.

2. $1747.4, the Apr 14 high and key bull trigger. See chart:

- https://emedia.marketnews.com/marketnewsintl/XAU.jpg