- Gold spent the week oscillating between the 1,206 support and 1,217.00 resistance.
- Gold is debating whether to resume the bear trend below 1,204.10, the 2018 low, or create a bullish reversal by breaking above 1,217.89-1,220.90 area.
- A breakout above 1,217.89-1,220.90 area can lead to an acceleration towards 1,236.28 July 13 low, key level.
Gold daily chart
Spot rate: 1,211.40
Relative change: -0.07%
Trend: Bearish / Double bottom attempt with 1,204.00 July 10, 2017
Resistance 1: 1,213.70 July 31 low
Resistance 2: 1,217.89-1,220.90 area, August 6 high and July 18 low
Resistance 3: 1,223.00 consolidation area
Resistance 4: 1,225.90 July 17 low
Resistance 5: 1,232.00 consolidation area
Resistance 6: 1,236.28 July 13 low, key level
Resistance 7: 1,241.50 intraday swing low
Resistance 8: 1,245.65 June 28 low
Support 1: 1,211.17 July 19 low
Support 2: 1,205.50-1,204.10 area, August 10 low and 2018 low
Support 3: 1,194.30 March 10, 2017 low
Support 4: 1,180.62 2017 January 27 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.