Gold recovers back from its recent descent below hourly support at 1306 (04/01/2018). The pair is stabilized at the 1317 range and is ready to trade sideways. Hourly support and resistance are given at 1351 (01/02/2018 high) and 1300 (29/12/2017 low).
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1’392 (17/03/2014) is required to confirm it. A major support can be found at 1’045 (05/02/2010 low).
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