Gold Technical Analysis: Gold prints new 2018 low at $1,225.90/oz

  • Gold lost about $12 as the metal reached a new 2018 low at $1,225.90 a troy ounce.
  • Gold is now consolidating the steep sell-off. Resistances to the upside are located near 1,232.00 consolidation area and 1,236.28 former 2018 low.
  • To the downside, bears objective is to reach the 1,220.00 level followed by the 1,204.00 July 10, 2017 swing low.

Gold 15-minute chart 

Spot rate:                   1,227.00
Relative change:        -1.11%
High:                          1,245.01
Low:                           1,225.90

Trend:                         Bearish

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 current 2018 low
Support 2:                1,220.00 figure
Support 3:                1,204.00 July 10, 2017 swing low

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