- Gold’s sell-off has stalled around $1,205 – the lowest level since July 2017, possibly due to hourly relative strength index reporting oversold conditions.
- However, bears remain in control as indicated by the long-run bearish breakdown on the monthly chart.
Current Price: $1,207
Daily High: $1,210
Daily Low: $1,206
Trend: Minor corrective rally likely, still overall bearish
R1: $1,211 (July 19 low)
R2: $1,215 (5-day moving average)
R3: $1,220 (10-day moving average)
S1: $1,205 (July 10, 2017 low)
S2: $1,200 (psychological support)
S3: $1,195 (March 10, 2017 low)