Gold trading near ATH, Bulls are waiting for breakout.

After 6 days of rangebound movement, Gold Bulls are back & looking for a Breakout on Daily Chart. In early asian session Gold gave a breakout from 1hr Flag Pattern & currently trading at 2753 at the time of writing this report. On 4hr Time frame it has formed an ascending triangle pattern which is bullish in nature. Dollar Index & Bond Yields are consolidating attracting fresh buyers in Gold. Meanwhile, increased enthusiasm that former US President Donald Trump could win the November 5 election, combined with hopes of more Chinese stimulus, underpin global equities, diminishing the attractiveness of the go-to safe-haven, the US Dollar. 

Traders today will be waiting for CB Consumer Confidence data alongside JOLTS Job Openings.

Gold Structure: Inside Bar Breakout on Daily, Near Flag Breakout on Daily, Ascending Triangle Pattern on 4hr, Breakout from flag on 1hr.

Intraday Strategy/ Intraday Trend: Buy on Support,Buy on Breakouts/ Bullish

Weekly Trend: Hyper Bullish

Major Resistance: 2758,Undefined, Undefined

Major Support: 2747,2740,2730