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Gold (XAU/USD) Looks Ready to Break Out to 1430-1440

The price of gold in US Dollar, $XAUUSD has been relatively sideways since 2014. It looks like price will round out a price bottom in 2018.

XAU/USD Weekly Chart

(click to enlarge)

Rounded Bottom:
- The weekly chart shows a rounded bottom developing.
- We can also see that the right side of this price bottom started in 2016. 
- If we just look at the price structure since 2016, we can see a triangle.
- We can also see that price is testing this triangle resistance. 
- There is a recent bullish engulfing candle attacking this triangle resistance.
- This strong price action suggests we should expect a bullish breakout.
- A close above 1360 in the upcoming weeks can open up the next key resistance around 1430-1440.