Gold daily forecast - Weak Rebound May Push Price Lower

In my previous analysis on gold, the price indeed has rebounded off from the demand zone around 1292 and climbed highest to 1297.
However, the rebound was too weak and shallow which may cause the price to pull back and retest the low once again.
The price has been consolidating upwards, forming a short-term rising channel which seems to be completed soon.
If the price can break below the channel, we can look for a short-term sell towards the demand zone below.

Trade fechado: stop atingido:

Took a hit as the gold lept over the short-term supply zone.
And next will be the 1-week supply zone above 1308 to be tested.