GOLD Near Support level

• Gold is trading near its support area at 1314 in daily chart.
• daily chart is also showing a possible rounding top pattern. Break of 1314 will extend the correction. Rounding top forms the shape of an upside down "U". A rounding top may form at the end of an extended upward trend and indicates a reversal in the long term price movement. The pattern can develop over several weeks, months or even years, and is considered a rare occurrence by many traders.
• If price gets support at 1314 and followed by a rally will negate this bearish pattern