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   “¢   The precious metal regained positive traction on Tuesday and built on the overnight bounce from ascending trend-line support, extending from Jan. 25/28 through lows set on Feb. 7.

   “¢   Today’s up-move marked a positive day for the third session in the previous four, with bulls now looking to extend the momentum further beyond 200-hour SMA and the $1315-16 supply zone.

   “¢   Technical indicators on hourly/daily charts have managed to regain positive traction and support prospects for an extension of the intraday positive momentum amid a modest USD pull-back.

   “¢   Traders, however, are likely to wait for a sustained move beyond the mentioned hurdle before placing any aggressive bullish bets for a move back towards $1326 area- nine-month tops set in Jan.

Gold 1-hourly chart

XAU/USD

Overview:
       Today Last Price:  1312.3
       Today Daily change %:  0.30%
       Today Daily Open:  1308.36
Trends:
       Daily SMA20:  1300.88
       Daily SMA50:  1279.42
       Daily SMA100:  1250.06
       Daily SMA200:  1231.32
Levels:
       Previous Daily High:  1314.88
       Previous Daily Low:  1303.75
       Previous Weekly High:  1322.3
       Previous Weekly Low:  1300.1
       Previous Monthly High:  1326.25
       Previous Monthly Low:  1275.9
       Daily Fibonacci 38.2%:  1308
       Daily Fibonacci 61.8%:  1310.63
       Daily Pivot Point S1:  1303.12
       Daily Pivot Point S2:  1297.87
       Daily Pivot Point S3:  1291.99
       Daily Pivot Point R1:  1314.24
       Daily Pivot Point R2:  1320.12
       Daily Pivot Point R3:  1325.37