Gold resurfaced
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On the daily chart of gold, there was a breakout of the important resistance at $1262 per ounce. As a result, the AB = CD pattern has been activated. Its 200% target is located near $1335. To reach this target, the bulls will need to push quotes out of the long-term downward trading channel and test the resistance at $1280.
On the hourly chart of gold, the ascending triangle pattern has been realized. The bulls might try to retest the upper border of the triangle located at $1262. In case of breakout, there will be a continuation of the rally.
