At the H4 chart of gold (GOLD.FUT) we can see pressure of bulls. Noticeable are higher lows and highs. You can see the price for a long period of time was above the resistance zone 1261-1268 USD. This demonstrates the power of bulls and enhance the probability of increases in case of breaking over the above-mentioned levels. Currently the price corrects the latest gains.
Price is located near the bottom edge of the 1261-1268 USD, which covers 50% of the abolition of the FIBO (measured from the low from14.10.2016 r.). Growth with increasing real volume can open the way to further strengthening of the gold, the reverse is likely to be conducive to decline.