The gold price got rejected at the $1,150 resistance level and pulled back. The big picture remains unclear as long as the weekly candle remains inside the big triangle pattern. A weekly close above $1,150 will open the way to $1,200, otherwise we can see $1,110-20 again.
The gold price is below the red downward sloping trend-line resistance. The price is above the Ichimoku cloud support. Gold is making impulsive upward moves while the structure of declines is corrective. The short-term resistance is at $1,154 and support stands at $1,130.
