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   “¢   The precious metal reversed an early dip and jumped to fresh session tops in the last hour, turning higher for the second straight session.

   “¢   The positive momentum has been strong enough to lift the commodity beyond a descending trend-channel formation on the 1-hourly chart.  

   “¢   Technical indicators on mentioned charts have just started gaining traction and support prospects for an extension of the goodish intraday up-move.

   “¢   A follow-through strength beyond 200-hour will add credence to the near-term bullish breakout and pave the way for a further appreciating move.

Gold 1-hourly chart

XAU/USD

Overview:
       Today Last Price:  1311.18
       Today Daily change %:  0.11%
       Today Daily Open:  1309.8
Trends:
       Daily SMA20:  1298.75
       Daily SMA50:  1276.03
       Daily SMA100:  1247.89
       Daily SMA200:  1230.71
Levels:
       Previous Daily High:  1312
       Previous Daily Low:  1302.8
       Previous Weekly High:  1326.25
       Previous Weekly Low:  1297.8
       Previous Monthly High:  1326.25
       Previous Monthly Low:  1275.9
       Daily Fibonacci 38.2%:  1308.49
       Daily Fibonacci 61.8%:  1306.31
       Daily Pivot Point S1:  1304.4
       Daily Pivot Point S2:  1299
       Daily Pivot Point S3:  1295.2
       Daily Pivot Point R1:  1313.6
       Daily Pivot Point R2:  1317.4
       Daily Pivot Point R3:  1322.8