GOLD Weekend update

• Gold daily trying to stay above 50 Day SMA. Last attempt to stay above this line was failed. Immediate resistance for Gold bulls are 1298 to 1308. If price sustains above this level bigger up move is possible.
• Gold week has an Ascending triangle pattern. Another fall towards the rising support line of the pattern is possible before the big up move can happen. Resistance level for the Ascending triangle is at 1365. If the support line of the weekly pattern works well then price should visit 1365 level soon.