GOLD: Pullback in short-term?

Hi traders!
From a technical point of view, the trend is bullish on the main time frames, but at the same time, in the short term, Gold has reached an interesting Resistance Area on the daily and intraday charts. That said, as shown on the 4H chart, from the resistance area Gold could trigger a pullback around the first or second Support Area. With this in mind, from next week we will look for some Reversal Patterns on smaller time frames (1H, 30') that can confirm our idea.

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Trade closed: target reached:

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🔴 Today's closely scrutinized consumer price data rudely arrived a smidgeon warmer than rate watchers might have hoped. But the report did very little to alter expectations that the Fed will dust off its rate-cutting scissors some time this year. The Labor Department's Consumer Price Index (CPI) (USCPI=ECI), which tracks the prices urban Americans pay for a basket of goods and services, gained a bit of momentum in February, rising 0.4% from 0.3%, inline with expectations.
Excluding volatile food and energy prices, so-called "core" CPI repeated January's 0.4% print, a hair above the 0.3% consensus. Year-on-year, headline and core CPI came in at 3.2% and 3.8%, respectively. Both readings were 10 basis points hotter than economist projections. On a line-item basis, a 2.3% surge in energy prices, a 3.8% jump in gasoline and 3.6% pricier airfares are the eye openers. But on the positive side, services and shelter - viewed as roadblocks to a sustained cool-down, decreased to 0.5% and 0.4%, respectively. "Outside of shelter and gas prices, inflation would be benign," writes Jeffrey Roach, chief economist at LPL Financial. "Expect to see markets struggle with what this means for Fed policy." Indeed, a peek under the hood suggests prices are still meandering along their long and winding road down to Powell & Co's average annual 2% target. "By the time we get to the June meeting, the Fed will be satisfied with the progress that they've made on bringing down inflation," says Kristina Hooper, chief global market strategist at Invesco. "This is an imperfect journey, but the trend is very much a disinflationary trend." What matters most, in an economy that derives 70% of its GDP from consumer spending, is that Americans keep their wallets open. February marks the seventh straight month of meaningfully positive growth for so-called "real wages," or average hourly wage growth minus core CPI. This comes as a continued relief, after real wages were running in the read for 21 consecutive months, putting a strain on savings and sending revolving credit balances through the roof. Nearly lost in CPI's fog, the mood amongst U.S. small business owners soured a tad last month, according to the National Federation of Independent Business (NFIB). NFIB's Optimism index (USOPIN=ECI) shaved off half a point to land at 89.40, the bleakest reading since last May, with a growing percentage of respondents identifying the "i" word as their most pressing problem, overcoming the lack of qualified workers.