Gold Futures wobbles around 1494.00 after bouncing back at 1488

Gold futures prices have been capped at 1500.00 for about a week and still struggle to break through that hurdle. It has formed a reliable price channel to the upside with slow but reasonable progress at the bottom of the price channel. Gold prices need to push through 1494.00 and break the major resistance at 1500.00 to proceed to its next target at 1510.00. Gold prices could fall to 1488.00 if it fails at 1494.00.

Support: 1494.00, 1488.00, and 1480.00
Resistance: 1500.00, 1510.00, and 1521.30