Gold price made a new low earlier this morning only to reach closer towards the long-term 61.8% Fibonacci retracement of the entire rise. Price is now bouncing and testing short-term resistance. Gold short-term trend remains in a bearish trend as long as price is below $1,195.
Gold price is testing resistance. Short-term trend remains bearish. There are divergence signs warning Gold bulls. A break above $1,195 could push Gold price towards $1,220. Support is at $1,170.
