Gold is currently trading at $1,340, having clocked a high of $1,346.85 yesterday.
On the daily chart, the safe haven yellow metal carved out a doji candle yesterday, signaling indecision/bullish exhaustion. Further, on the 4-hour chart, the RSI has diverged in favor of the bears.
Therefore, the yellow metal could fall back to the ascending 5-day moving average (MA) support, currently lined up $1,335.
Trend: Minor correction likely