Gold technical's are looking positive heading into the US session

New York (Feb 24)  Gold futures are trading 0.16% higher heading into the US open and there has not been too much news flow in the EU session.

On the 4-hour chart below one of the key features is the trendline marked in light purple. If this level breaks, then the price could be heading to higher levels.

The wave high at $1815/oz might be a troublesome area but a break of the two resistance zones will be a big positive for the bulls.

On the downside, $1772.8/oz is still the main support area, but the last few positive 4-hour candles have had more volume than the negative ones.

Looking at the volume profile, we are in the middle of a distribution zone and if we break higher the next one up is $1843/oz. Before that, the orange resistance line at $1824.8/oz will be a big hurdle for the bulls. For now, the bulls are in charge.

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