Gold jumps back higher, breaking above 1317.00 resistance level and the 50-days SMA. The intraday bias is bullish; however, we need a break above the latest swing high at 1346.00 to confirm another leg higher towards 1366.00 next potential resistances. 1304.00 should limit downside dips, a break below 1304.00 will signal move back lower and maintain the ongoing sideways range.
Support: 1318.00, 1305.00, 1298.00, 1288.00, 1274.00
Resistance: 1333.00, 1340.00, 1346.00, 1365.00, 1375.00
Recommendation Long above 1315.00, targets at 1333.00, 1346.00 and 1365.00. Invalidation below 1300.00