Gold Price Analysis: XAU/USD bulls testing critical daily resistance

• Gold has stalled in the decent within its bearish cycle. 
• XAU/USD's short term momentum is with the bulls with prospects of a 50% mean reversion of the weekly bearish impulse. 

Gold is testing the commitments of the bulls with a focus on the weekly 50% mean reversion confluence with old support. 

The following is a top-down analysis that illustrates how bulls now need to get over the daily resistance from within 4-hour bullish conditions.  

Monthly chart

The monthly chart has shown indecisiveness in the market so far for March, supported by the 21 SMA.

Weekly chart

Bulls have their eyes on a move back to test old support and a 50% mean reversion. 

Daily chart

The daily chart shows the price is at a crossroad. 

At resistance, there is the possibility of a return back to test the support and would leave the price trapped. 

On a break of resistance, there are the prospects of a run back to test the 21-D SMA which would meet a 50% mean reversion of the weekly bearish impulse. 

4-hour

The 4-hour momentum is with the bulls as the price chips away at the resistance zone and rides the support of the 21-SMA.