Gold Technical Analysis: Gold bears looking at the 2018 low

• Gold is trading less than 4 points away from the 2018 low at 1,236.28.
• Gold momentum is bearish but sellers need a bear breakout below 1,236.28 in order to extend the bear trend towards  1,204.00, July 10, 2017 swing low.
• Failure to break below 1,236.28 can lead to a bullish reversal attempt and target 1,245.65, June 28 low.

Gold 15-minute chart  

Spot rate:                   1,240.00
Relative change:          -0.11%
High:                          1,245.60
Low:                           1,238.10

Trend:                         Bearish

Resistance 1:            1,241.50 intraday swing low
Resistance 2:            1,245.65 June 28 low
Resistance 3:            1,250.00 figure
Resistance 4:            1,254.23 June 28 high
Resistance 5:            1,260.00 figure  
Resistance 6:            1,264.14 June 25 low
Resistance 7:            1,270.00 figure
Resistance 8:            1,286.10 May 21 low

Support 1:                1,236.28 current 2018 low
Support 2:                1,204.00 July 10, 2017 swing low
Support 3:                1,122.89 December 11, 2016 swing low