Gold price declined in its last intraday trading, in a profit taking phase after the strong gains that achieved previously, where it attempts to gains bullish momentum that might help it to resume the rise in the upcoming period, this decline comes after breaching the key resistance of $4,155, which was our expected main target, indicating the dominance of the bullish wave on the short-term basis.

Gold is moving alongside supportive trend line for this bullish track, supported by the renewed bullish signs on the relative strength indicators, despite reaching overbought levels that might limit the upside movements. Any current decline represents a chance for taking a breather before any new attempt to reinforce the gains.

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