Gold Technical Analysis: Bulls making a fresh attempt to build on strength beyond $1300 mark

   •  Having defended 100-day SMA support last Thursday, the precious metal picked up the pace and climbed to over one-week tops on the first trading day of a new week.

   •  The positive mood remained intact for the second consecutive session, with bulls making a fresh attempt to extend the momentum beyond the key $1300 psychological mark. 

   •  Oscillators have been gaining positive traction on hourly charts and also recovered from the negative territory on the daily chart, supporting prospects for a further positive move.

   •  A sustained move beyond the mentioned handle will reaffirm the constructive outlook and lift the commodity towards $1311-12 immediate resistance en-route $1323 supply zone.

Gold daily chart