Indecision on gold

On the daily chart of gold we can see that the precious metal is still within the limits of the bullish flag that we identified a few days ago. There is no clear trend in the medium term for gold until the price breaks out of the channel, either to the upside or to the downside. Right now the price is oscillating around the 55 day exponential moving average, purple line, around the 1324 level. From this point the price of gold could go in any direction. If it breaks below the 1300 level, then the zone between the 200 day and 200 week EMA, blue area, could act as its next support. To the upside, the high around the 1375 level is still its most important resistance at the moment.