Gold continues to move sideways but is still inside the bearish channel. The trend remains bearish as long as the price is below $1,240 with increased chances of a push lower towards $1,190. If, however, at this stage we do not move towards $1,190 and break above $1,240, there are a lot of chances of making a new high towards $1,300.
Blue area - support
Yellow area - resistance
Gold is below the Kumo (cloud) on the 4-hour chart and is still inside the bearish channel. The trend remains bearish. Short-term support is at $1.215 and short-term resistance is at $1,233. The price is mainly moving sideways but unable to make higher highs.
