Gold Technical Analysis: Yellow Metal bulls hesitant below the 1,230.00 resistance

Daily chart

• Gold is trading in a bear trend below the 200-period simple moving average (SMAs). 
• Bulls reclaimed the 50 and 100 SMA with the 50 SMA crossing above the 100 SMA.
• The RSI and Stochastic indicators are both trading above the 50 line while the MACD is also turning bullish.

4-hour chart

• Gold found resistance at $1,230.00 a troy ounce.  
• Gold formed a wedge-shaped pattern followed by a double top. 
• A pullback to 1,217.70 should be next.

30-minute chart

• Technical indicators are losing their bullishness.
• All suggesting a breakdown to 1,217.00

Additional key levels

XAU/USD

Overview:
    Last Price: 1226.93
    Daily change: 1.2e+2 pips
    Daily change: 0.0946%
    Daily Open: 1225.77
Trends:
    Daily SMA20: 1218.93
    Daily SMA50: 1216.81
    Daily SMA100: 1207.08
    Daily SMA200: 1237.73
Levels:
    Daily High: 1230.3
    Daily Low: 1219.4
    Weekly High: 1225.4
    Weekly Low: 1196
    Monthly High: 1243.43
    Monthly Low: 1182.54
    Daily Fibonacci 38.2%: 1226.14
    Daily Fibonacci 61.8%: 1223.56
    Daily Pivot Point S1: 1220.01
    Daily Pivot Point S2: 1214.26
    Daily Pivot Point S3: 1209.11
    Daily Pivot Point R1: 1230.91
    Daily Pivot Point R2: 1236.06
    Daily Pivot Point R3: 1241.81

(source: Fxstreet.com)