Gold's multi-week consolidation in a narrowing price range could end with a bullish breakout, as a widely-tracked daily chart indicator is about to turn bullish.
The yellow metal has carved out a descending triangle pattern over the past four weeks. The triangle's upper end or resistance is currently located at $1,960, and support is seen at $1,910. Gold is trading at $1,953 per ounce at press time, representing a 0.13% gain