Gold 0.12% is moving within a small (degree) triangle for now and is seen to be trading around $1201/02 levels at this point in writing. If this triangle structure should remain intact, the yellow metal would likely remain below $1204 levels and break lower. On the alternate count, a break above $1204/05 could test $1212/13 levels as it is the next resistance in line, as shown on the chart view here. Looking at the probable wave structure, Gold 0.12% remains bullish for the medium term and a safe trading strategy could be to remain/add long positions on dips. Please note that the optimized entry could be between $1185/89 levels if prices manage to reach there.
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