Gold price remains in a short-term bearish trend. Price has recently bounced from $1,535 towards $1,550-55 but price remains below key resistance. Gold price needs to overcome $1,564 in order for bulls to regain control of the trend.
Green line - bearish divergence
Red rectangle - resistance area
Gold price is challenging important resistance area. Both oscillators are negatively sloped. As long as price is below $1,563 trend will remain bearish.
