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