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The 200-hour moving average (MA) line is capping gains for the fourth consecutive trading day.

While the pullback from the recent highs above $1,345 seems to have run out of steam at the key moving average support, a break above $1,333 is needed to confirm a bullish reversal.  

At press time, gold is trading at $1,328 and the 200-hour MA line is located at $1,326.  

Hourly chart

Trend: Bullish above $1,333