Indecision on gold

Gold has been stuck around the 1200 zone with a good support zone at the 55 day EMA, purple line, which is currently around the 1194 level as shown on the daily chart. The bullish trend is still in place, but the price of the precious metal may head in any direction from the current levels. To the downside, the only important support that we see is the low that it reached around the 1122 level. To the upside, gold may still try to reach its 200 day EMA, blue line, which is currently around the 1233 level. But if the price of gold breaks above the 200 day EMA, then the road is clear all the way to the 1300 level. Another possible scenario is that the price may stay consolidated between the 55 day EMA and the 200 day EMA.