Support at $2,227, is it time for the bull run to continue?

Gold is up more than 1% on the day after the recent pullback towards its 50-day moving average. Currently, the commodity is trading at around $2,333 an ounce. The commodity shed 6.76% from its all-time high’s and seem like it is now forming a support base to perhaps resume its bull run. The main support level reads $2,277, and only a break and close below it would suggest that further downside is likely. The bears would then try to force the price to around $2,220. The resistance for the near-term is now along the dotted trendline, reading $2,352. A break and close above it could lead to an extension back up towards those all-time highs around $2,400oz. The technical indicators seem to be flattening, perhaps bottom out for the short term. The MACD volume remains negative but the signal line is flat to rising, whereas the RSI has now turned positive as it reads 55.