Since November, gold has rallied from its low on the year at 1130 to almost 1240. The daily chart shows gold testing a falling trendline that comes down from July's 1345 high. It is also testing the 100-day SMA, while the RSI tests the 60 level. The combination of price structural resistance, and the RSI at 60, signifies the last line of defense against a shift away from the bearish trend to at least a sideways market. (Gold Daily Chart 12/10; click to enlarge)If there is a break above 1240, the subsequent bearish outlook will have to be limited to the 1140-1150 area, just above the low on the year, in anticipation that gold has turned sideways and is no longer bearish.Gold is not bullish neither, except for the short term. If price pushes above 1240, gold does open up the 1300 handle, but we do see some support/resistance action around 1280, where we should limit the bullish outlook if price does push above 1240.