Gold Technical Analysis: Bulls in control despite risk-on mood, poised to retest multi-month tops near $1326

   •  The commodity built on the previous session's goodish bounce and now seems to have found acceptance above a short-term descending trend-line resistance on the 4-hourly chart.

   •  The bullish momentum defied some renewed USD buying interest and the prevalent risk-on mood, supporting prospects for an extension of the ongoing positive momentum. 

   •  Moreover, technical indicators on the mentioned chart have been gaining positive traction and add credence to the constructive outlook, paving the way for a retest of multi-month tops.

   •  Hence, a follow-through up-move, towards challenging the $1326 supply zone, now looks a distinct possibility amid absent relevant market moving economic releases from the US.

Gold 4-hourly chart