Gold price has delivered an upside break of the horizontal resistance plotted from January 4 high at $1,865.15 on an hourly scale, which will act as major support ahead. The 20-and 50-period Exponential Moving Averages (EMAs) have delivered a bull cross around $1,840.58, which adds to the upside filters.
Also, the Relative Strength Index (RSI) (14) has shifted into the bullish range of 60.00-80.00, which indicates that the bullish momentum has been triggered.
Gold hourly chart
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