Gold is decreasing following recent sideways trading phase, trading below 1315 and expected to decline along the 1308 range. The pair is contained between hourly support and resistance given at 1300 (29/12/2017 low) and 1338 (19/02/2018 high). The technical structure suggests further short-term decrease.
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).
