Gold has found strong support at the key 1100 level and has consistently closed above it for a week. After reaching a high of 1135.16, prices are expected to consolidate around this level in the near-term. As long as gold remains above its 50-day moving average then upside momentum would hold. But any move higher would find resistance at the 100-day moving average around 1152 and also at the downtrend line.
In the bigger picture, gold looks bearish, especially if prices remains below the key 1200 level and below the 200-day moving average. Prices are below the downtrend line and if prices break below the multi-year low of 1071.19, the bearish trend would strengthen.