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

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD trades firmer above 1.1300 amid upbeat market mood

EUR/USD holds the higher ground above 1.1300, as the risk-on mood weighs on the US dollar. The shared currency will remain at the mercy of the broader market sentiment as the data docket is light on Monday. 

EUR/USD News

GBP/USD off highs, around 1.2650 ahead of BOE’s Bailey

GBP/USD trims gains to trade around 1.2650 in early Europe. UK Chancellor Sunak prepares another aid package, Michael Gove pushes to prepare for Brexit. Significant differences prevail in the post-Brexit talks. BoE’s Bailey to speak later today.

GBP/USD News

Gold sits near daily tops, just below $1810 level

A combination of supporting factors assisted gold to regain positive traction on Monday. Sustained USD selling remained supportive amid concerns about rising COVID-19 cases. The prevalent risk-on mood might turn out to be the only factor capping any strong gains.

Gold News

FX Today: Vaccine, earnings optimism downs the dollar; eyes on COVID-19 stats, BOE’s Bailey

The risk-on sentiment emerged as the main market driver starting out the week, amid a quiet Asian affair, in the absence of relevant macro news. US dollar remained on the back foot, as the coronavirus vaccine optimism continued to dull its safe-haven appeal.

Read more

WTI: 200-HMA probes bears above $40.00

WTI stays pressured beyond $40.00 despite multiple bounces off 200-HMA. MACD conditions suggest bears rolling up their sleeves for entry. Bulls will have multiple upside barriers beyond $41.00.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures