Gold market is massively under the influence of the USD price. The U.S. Treasury yields will be the most influential factor for Gold price.
The support rests at 1291.62 with resistance at 1297.61 which both lines are above the weekly pivot point at 1275.90. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is rising above the 50 level, the Stochastic is showing upward momentum and the MACD line is on the signal line in the neutral territory. The ADX is showing buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 1300.

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