SPOT GOLD extends recovery, boosted by weaker dollar / rising demand on Chinese New Year

Spot Gold stands at the front foot on Tuesday and extends recovery rally from $1307 (08 Feb correction low) to crack strong barriers at $1330 zone (Fibo 38.2% of $1366/$1307 bear-leg / converged 10/30 SMA’s).
Weaker dollar on signs of global stocks recovery and expectations of stronger demand ahead of Chinese New Year, keep the price inflated.
Improving daily techs are supportive, with close above $1330 needed to generate fresh bullish signal for extension through $1334 (20SMA / 4-hr cloud base) towards next pivot at $1343 (Fibo 61.8% of $1366/$1307 / 4-hr cloud top).
Corrective dips on overbought hourly studies should be contained at $1320 zone to keep near-term bulls intact.

Res: 1331; 1334; 1337; 1343
Sup: 1326; 1320; 1314; 1307