Gold Technical Analysis: Yellow Metal reversal attempt - Trading near $1232.00/oz
|- Gold is rebounding for the second consecutive day after the metal established a new 2018 low on Thursday at $1,220.90 a troy ounce.
- Gold is gaining bullish momentum as the 50 and 100-period simple moving averages (SMA) have crossed above the 200 SMA.
- Bulls are now trying to close above the 1232.00 level in order to target 1,236.28 July 13 low.
Gold 15-minute chart
Spot rate: 1,230.16
Relative change: 0.65%
High: 1,232.20
Low: 1,215.51
Trend: Bearish / Bullish reversal attempt
Resistance 1: 1,232.00 consolidation area
Resistance 2: 1,236.28 July 13 low
Resistance 3: 1,241.50 intraday swing low
Resistance 4: 1,245.65 June 28 low
Resistance 5: 1,250.00 figure
Resistance 6: 1,254.23 June 28 high
Resistance 7: 1,260.00 figure
Resistance 8: 1,264.14 June 25 low
Resistance 9: 1,270.00 figure
Resistance 10: 1,286.10 May 21 low
Support 1: 1,225.90 July 17 low
Support 2: 1,220.90 current 2018 low.
Support 3: 1,204.00 July 10, 2017 swing low
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