Gold - XAUUSD - Pennant Pattern - 1st Target - 1553

The Gold has taken support above 1490 from the last three trading sessions. Therefore, this behavior is supporting the formation of Pennant pattern along with pole, in the aforementioned time frame. Hence, a trader can place a long position with a stop-loss of 1458, and 1553 as the first target. Further, the second target of 1597 can be achieved, provided it's closing above the first target.