Technical outlook and chart setups:
1. Gold has reached the 0.618 fibonacci support levels of the rally between $1,180.00 and $1,388.00 as seen here. Furthermore past resistance turned support region is also around $1,250.00/60.00. A bullish reaction could be expected around $1,250.00/55.00. Recommendations are to remain flat for now and watch out for bullish reversal.
2. Support is seen at $1,230.00/40.00, followed by $1,210.00, and lower while resistance is seen at $1,300.00/05.00, followed by $1,310.00/30.00, $1,350.00/60 and higher respectively.
3. The structure indicates that Gold could produce a bullish bounce at current levels around the $1,250.00/60.00 region. A break below $1,240.00/30.00 would be encouraging to bears.
Trading recommendations:
Remain flat for now.
Good luck!