Home Gold Technical Analysis: Gold breaking to fresh 2018 low near $1,230/oz
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Gold Technical Analysis: Gold breaking to fresh 2018 low near $1,230/oz

  • Gold has broken the former 2018 low at $1,236.28 per once and has reached a daily low at 1,230.21 at the time of writing.
  • Bears will try to keep the momentum going and drive prices near the 1,220.00 figure and 1,204.00 July 10, 2017 swing low in the coming days.  
  • The former 2018 low at 1,236.28 becomes now resistance.  

Gold 15-minute chart

Spot rate:                   1,232.00
Relative change:         -0.72%
High:                          1,245.01
Low:                           1,230.21

Trend:                         Bearish

Resistance 1:            1,236.28 former 2018 low
Resistance 2:            1,241.50 intraday swing low
Resistance 3:            1,245.65 June 28 low
Resistance 4:            1,250.00 figure
Resistance 5:            1,254.23 June 28 high
Resistance 6:            1,260.00 figure  
Resistance 7:            1,264.14 June 25 low
Resistance 8:            1,270.00 figure
Resistance 9:            1,286.10 May 21 low

Support 1:                1,220.00 figure
Support 2:                1,204.00 July 10, 2017 swing low
Support 3:                1,122.89 December 11, 2016 swing low

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