Gold Technical Analysis: Break of immediate support line highlights $1297 for sellers

• Gold slipped under a weeklong ascending support-line and is trading around $1307 during early Thursday.
• With the break of immediate support, a horizontal line comprising early January highs and month-end lows $1297 gains sellers’ attention.
• Given the prices slid beneath $1297, an upward slanting trend-line stretched since late November 2018, at $1294, seems important support as a break of which can drag the quote to $1286 and then to the $1277 rest-points.
• Meanwhile, $1316 can serve as nearby resistance for the bullion, breaking which highlights the $1323.40 and the $1326.25 as following levels to watch.
• Should there be additional upside beyond $1326.25, the $1330 may come back on the chart.

Gold 4-Hourly chart