The gold futures took a pause before the Fed meeting results announcement.
The gold futures declined during the Asian and the European sessions on Tuesday. The metal returned to a growth during the American session. The gold set a new day high at the mark 1289.
The gold is trying to consolidate above the level of 1280.00 and continue to grow on the one hour chart. The resistance is at 1300, the support lies at 1280.
MACD is in a positive area, the histogram declined that is a sell signal. The signal line left the histogram. That is a pivot signal. RSI is in the overbought level of 70. That is a buy signal. Shall the signal line leave the overbought zone down we will get a sell signal. The price is above Moving Averages (50, 100 and 200). There was a crossover on the Moving Averages. The Moving Averages are directed upwards.
The gold futures are at 1280.00 on the daily chart. That is a very important level which may act as a further level of support if the price closes above it. Therefore, it is the best to wait for a consolidation above or below the level.