Gold range is getting tighter

Gold drops and it goes back down while the Dollar rallies. Those two instruments have a negative correlation. On the daily chart of gold we can see that the price is forming what it appears to be a symmetrical triangle and the range is getting tighter. To the downside, the most important support area seems to be between the 200 day exponential moving average, around the 1241 level and the 200 week exponential moving average at the 1262 level. But the first support area is around the lower trendline of the triangle along with the 55 day EMA. The 1300 level could also be a good support for gold. To the upside, the first resistance could be the 1358 level followed by the high at the 1375 level.