Gold strong bounce from 1290 low continues, trading along 1298 and approaching 1301. Hourly support and resistance are given at 1282 (21/05/2018 low) and 1329 (08/03/2018 high). The technical structure suggests further short-term increase.
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1’392 (17/03/2014) is required to confirm it. A major support can be found at 1’045 (05/02/2010 low). The pair is trading below its 200 DMA.
