Gold Technical Analysis: Yellow Metal falling to new 2018 low

• Gold broke to a new 2018 low as it reached $1,243.90  a troy ounce.  
• Gold is likely set to remain under pressure as Gold is in a strong bear trend. It is trading below its 50, 100 and 200-period simple moving average.  
• The 1,245.65 level former 2018 low becomes now the new intraday resistance while to the downside bears need to overcome 1,243.92 December 3, 2017 low to target 1,236.52 December 12, 2017 swing low.

Gold 15-minute chart

Spot rate:                   1,243.90

Relative change:        -0.66%

High:                          1,254.21
Low:                           1,243.90

Trend:                         Bearish

Resistance 1:            1,245.65 former 2018 low
Resistance 2:            1,250.00 figure
Resistance 3:            1,254.23 June 28 high
Resistance 4:            1,260.00 figure  
Resistance 5:            1,264.14 June 25 low

Support 1:                1,243.92 December 3, 2017 low
Support 2:                1,236.52 December 12, 2017 swing low
Support 3:                1,204.00 July 10, 2017 swing low