Gold is edging higher following recent sideways trading phase, breaking hourly resistance at 1338 (19/01/2018) and heading for new hourly resistance given at 1348 (20/02/2018 high). Hourly support remains at 1300 (29/12/2017 low). The technical structure suggests 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).