Gold price got rejected at $1,439 and has pulled back towards previous resistance now support at $1,400. Gold is in a trading range and it is better to be neutral until we see a clear break of resistance or support.
Red rectangle - support
Green line - trend line support
Yellow rectangle - resistance
Gold price has resistance at $1,439-40 and support at $1,400. As long as price is above the green trend line and the red rectangle bulls will have hopes for a move towards $1,500-$1,520. Breaking above $1,440 will confirm this bullish scenario. However yesterday's double top and rejection at $1,440 is a bearish sign. Breaking below $1,400 will open the way for a move towards $1,300-$1,330. So now we wait.
