- Gold made a new 2018 low this Wednesday close to the 1,220.00 support and then pulled back to the upside, erasing all its previous daily losses as the metal is set to close the day virtually unchanged.
- Gold bulls are creating a reversal from the new 2018 low. Scaling points to the upside are likely located near 1,229.14 the current Wednesday high followed by 1,232.00, consolidation area while support is near 1,225.90, the previous 2018 low and 1,220.90, the current 2018 low.
Gold 15-minute chart
-636675328183234034.png)
Spot rate: 1,228.06
Relative change: 0.04%
High: 1,229.14
Low: 1,220.90
Trend: Bearish / Bullish reversal attempt
Resistance 1: 1,232.00 consolidation area
Resistance 2: 1,236.28 former 2018 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 previous 2018 low
Support 2: 1,220.90 current 2018 low.
Support 3: 1,204.00 July 10, 2017 swing low
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