Gold has been trading down for most of the week and is currently below $1,250.00 a troy ounce and below the 200-period simple moving average which is suggesting a mild bearish bias on the metal. Gold is currently consolidating the bear move seen on Wednesday as bulls are trying to form a double bottom with the current 2018 low at 1,237.60. If the bears retake control they will probably re-attack the current week’s low at 1,241.00 and if they manage to gather enough momentum they might try to retake the 2018 low. However, a breakout above 1,250.00 might signal sellers’ lack of conviction; and in such scenario, a reversal up towards 1,260.00 figure could then be on the cards. Gold 15-minute chart Spot rate: 1,246.85 Relative change: 0.40% High: 1,248.60 Low: 1,241.00 Trend: Bearish below 1,250.00 Resistance 1: 1,250.00 figure Resistance 2: 1,254.23 June 28 high Resistance 3: 1,260.00 figure Resistance 4: 1,264.14 June 25 low Resistance 5: 1,270.00 figure Resistance 6: 1286.10 May 21 low Support 1: 1,245.65 June 28 low Support 2: 1,241.00 current week’s low Support 3: 1,237.60 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. View All Post By FX Street FXStreet News share Read Next USD/MXN trims losses after hitting fresh monthly lows under 19.00 FX Street 5 years Gold has been trading down for most of the week and is currently below $1,250.00 a troy ounce and below the 200-period simple moving average which is suggesting a mild bearish bias on the metal. Gold is currently consolidating the bear move seen on Wednesday as bulls are trying to form a double bottom with the current 2018 low at 1,237.60. If the bears retake control they will probably re-attack the current week's low at 1,241.00 and if they manage to gather enough momentum they might try to retake the 2018 low. However, a breakout above 1,250.00 might signal… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
