MCX Gold on the daily chart has formed a triangular consolidation pattern. Every dip in the consolidation has taken support near the middle Bollinger Band and the 21 daily exponential moving average (DEMA). Even in the recent fall, it has taken support there. Significant contraction in the daily Bollinger Bands indicates that a sharp move is in the offing. A fresh buy signal in the daily KST suggests that the triangle will break on the upper side. Once the swing high of Rs18,984 is surpassed, gold will target the high of Rs19,198 and beyond that the breakout target of the triangle pegged at Rs19,650. On the downside, the swing low of Rs18,502 is a key support from a shortterm perspective.