Gold price declined yesterday to trade below 1205.60 presented by 38.2% Fibonacci level. However, the price is trading above the main down trend line and above linear regression indicators. Trading between 1198.00 and 1205.00 something make us prefer staying aside, waiting for more confirmations.
MACD indicator signal lines are trading near the zero line and linear regression indicator shows weakness to, and that is another factors make us prefer staying aside.