The Questions For Gold

Could the bulls breakthrough on the scene for gold?

A descending triangle pattern has been seen in gold for the past 4 weeks:

• The triangle’s upper end or resistance is at $1,960 with support at $1,910. Gold was observed to be trading at $1,953.
• The daily chart MACD histogram has been recording higher lows below the zero line which indicates a weakening of the bearish momentum.
• This could potentially mean that the yellow metal could break past the triangle resistance at $1,960 and further pave the way for the August 18 high which is $2,015.

Two questions remain for gold: Could a break to the upside happen? Or will the price pattern fail and the reverse happen instead? 

Dear Yellow Metal, you are keeping us in suspense, indeed...