Gold - Technical Analysis: Wednesday, 05/07/2017 06:57 GMT

Gold price approaches from testing the important resistance line at 1231.21, which meets the intraday descending channel's resistance, to keep the bearish trend valid until now, waiting to test 1211.37 level mainly, noting that breaking this level will push the price to suffer more losses on the longer term basis.

On the other hand, surpassing 1231.21 will stop the expected decline and pushes the price to attempt to return to the bullish trend again.