Possible symmetrical triangle on gold

Gold had a good rally last week while the Dollar was weakening, but once it got to the 200 week exponential moving average zone, it stalls there and the bullish momentum dries down while the price consolidates around the 1256 level. The 200 week EMA zone at the 1256 level coincides with the 50% Fibonacci retracement of the fall that it suffered from the 1295 level to the 1214 level. On the daily chart we can see that the current consolidation has formed what it appears to be a symmetrical triangle. Due to the fact that the trend coming into the formation is bullish, there is a higher probability of seeing a bullish breakout, but the price of gold may actually breakout in any direction. In case of a bullish breakout, the next resistance level on gold is at the 76.4% Fibo around the 1276 level. Above the 1276 level, the next resistance is at the high that it made at the 1295 level from where it started falling. To the downside, in case of a bearish breakdown, the next support level is at the 200 day exponential moving average around the 1238 level. Below the 200 day EMA, its next support is at the low of the 1214 level from where it started retracing to the upside.