We have a descending flag on the daily creating a possible continuation of the bullish trend. Within that, there holds a demand zone that is fresh with few tests. We should expect a break out to the upside.
With a hit at stop loss from an indecision pattern such as a symmetric triangle we still have hope for a re-entry at demand. With few changes to analysis, and a confirmation daily candle ( Drangonfly Doji/Pin Bar ) we should expect a move out of the current range.
There has been rejection off a fresh demand zone creating a symmetrical triangle pattern. The descending expanding triangle pattern has been formed on larger timeframes. Still expecting a bullish move as fresh demand is yet to bring in momentum.
Gold is looking nice within this Demand Zone on lower hour timeframes. On a monthly it is in a Supply Zone. We are looking for rejection from this zone based on the current state of fundamentals and momentum.