Gold: step forward, two backwards
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On the daily chart of gold, the exit of quotes from the triangle allowed the Bulls to return to the upward trading channel. If buyers fail to gain a foothold there and push the quotes towards the support at $1256 will tell us about their weakness and open the way towards $1240-1245. For continuation of the rally, the Bulls need to update the May high.
On the hourly chart of gold, a breakout of support at $1,260 will allow the Bears to return quotes within the borders of the triangle and activate the Shark pattern. Its targets are located near the marks of $1,250 and $ 1,245.
