Gold Technical Analysis: Bulls keep the trend intact as the Yellow Metal is nearing $1,250.00/oz

Gold is trading in a bull trend above the 200-period simple moving average.
Gold broke above 1,237.60 (July 3 swing low) as technical indicator suggest more upside. The next levels for bulls to reach are likely located near 1,250.00 figure and 1,265.90 July high.
A break below 1,204.10 (August 3 swing low) would likely be a warning sign for bulls.

Flavio Tosti Independent Analyst

Gold 4-hour chart

Rate: 1,238.20
Relative change: 0.54%
High: 1,243.42
Low: 1,229.80

Main trend: Bullish

Resistance 1: 1,250.00 figure
Resistance 2: 1,265.90 July high
Resistance 3: 1,300.00 figure

Support 1: 1,237.60 July 3 swing low
Support 2: 1,220.90 July 18 low
Support 3: 1,211.17 July 19 low
Support 4: 1,204.10, August 3 swing low (key level)
Support 5: 1,182.90 August 24 low
Support 6: 1,172.82 current 2018 low

Author

Flavio Tosti

Independent Analyst

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