Tech analysis by Simon Kazinsky on 15:52 September 18, 2016 EST
Gold is making some textbooks moves. As can be seen on the chart XAUUSD has drawn a perfect triangle. Triangles are corrective patterns that occur typically on wave 2 or wave 4 under the Elliott Wave principle.
In addition the base of the triangle matches at this point with the supporting ascending trendline joining previous lows.
Therefore, a sign of reversal this week would give a good opportunity to buy with a limited loss risk.