Gold Technical Analysis: Correction up finds resistance at $1,280.00/oz

Gold daily chart

• The yellow metal corrected part of the slide of the last weeks this Wednesday but found strong resistance at the 1,280.00 level.

Gold 4-hour chart

• Gold is trading below its main SMAs suggesting a bearish bias in the medium-term.

 
Gold 30-minute chart

• Gold is trading above its main SMAs suggesting a bullish correction in the short-term.
• Bulls will defend 1,270.00 level while bears will try to break below it to reach 1,260.00 and 1,247.00 support to the downside. 
• Key resistance is at 1,280.00 and then at 1,290.00 figure.

Additional key levels