Bulls pressure key n/t barrier; FOMC minutes in focus for fresh signals

Spot gold rose on Monday, in extension of last Thu/Fri rally and pressures 2019 high at $1326, posted on 31 Jan (the highest since 25 Apr 2018).
News over the weekend on improved mode in US/China trade talks, sparked fresh optimism that pressured the dollar and offered fresh support to the yellow metal.
Bulls may lack strength to clearly break $1326 barrier, as momentum weakened on daily chart and stochastic is breaking into overbought territory.
Gold price may stay on hold ahead of key event for the metal this week – release of Fed’s January policy meeting minutes.
The US central bank surprised markets by more dovish than expected tone after keeping rates unchanged and signaled further slowdown in rate hikes in 2019.
Looser monetary policies are usually supportive for gold, which would probe above $1326 pivot and open way towards key med-term barrier at $1365 (12 Apr 2018 high).
Broken Fibo 76.4% barrier at $1316, marks initial support, followed by rising 10SMA ($1312) which is expected to contain dips.
Only return below 20SMA ($1308) and higher base ($1302) would weaken near-term structure and risk further weakness.

Res: 1326; 1331; 1335; 1341
Sup: 1320; 1316; 1312; 1308