Gold Technical Analysis: Back to $1,223.00/oz
FXStreet News

Gold Technical Analysis: Back to $1,223.00/oz

  • Gold seems set to end the day near $1,223.00/oz, which was a consolidation area last Friday suggesting that the market is pretty much in equilibrium.
  • Bears need to breakout below 1,220.90 July 18 low, in order to confirm the bearish bias while bulls need a breakout above the 1,225.90 level.  
  • Gold is currently finding dynamic support at the 100 and 50-period simple moving averages.

Gold 15-minute chart  

Spot rate:                   1,223.10
Relative change:        0.03%
High:                          1,225.10
Low:                           1,218.89

Trend:                         Bearish to neutral

Resistance 1:            1,225.90 July 17 low
Resistance 2:            1,232.00 consolidation area
Resistance 3:            1,236.28 July 13 low, key level
Resistance 4:            1,241.50 intraday swing low
Resistance 5:            1,245.65 June 28 low

Support 1:                1,223.00 consolidation area
Support 2:                1,220.90 July 18 low
Support 3:                1,211.17 current 2018 low
Support 4:                1,204.00 July 10, 2017 swing low

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.