Gold Technical Analysis: Yellow Metal finds resistance at $1,257.00/oz after $19 bull run

• Gold found some strong buying interest after it almost reached $1,237.60 a troy ounce. Gold flirted with December 12, 2017 swing low at 1,236.52.  
• Gold is currently consolidating the $19 intraday bull run as it found some resistance at the 1,257.00 level.
• If the consolidation continues the next scaling point to the downside is seen near the 1,250.00 figure and to 1,245.65 last week’s low.  

Gold 15-minute chart

Spot rate:                   1,253.00

Relative change:          0.90%

High:                          1,257.00
Low:                           1,237.60

Trend:                         Bearish

Resistance 1:            1,254.23 June 28 high
Resistance 2:            1,260.00 figure  
Resistance 3:            1,264.14 June 25 low

Support 1:                1,250.00 figure
Support 2:                1,245.65 last week’s low
Support 3:                1,243.92 December 7, 2017 low
Support 4:                1,236.52 December 12, 2017 swing low
Support 5:                1,204.00 July 10, 2017 swing low