- Gold found buying interest at the 1,204.00 support and then shot up almost to $1,220.90 a troy ounce which is the July 18 low, resistance.
- Gold is currently retracing the intraday boost towards the 200-period simple moving average and the 1,213.70 July 31 low.
- Although bulls had a strong intraday bull run, the yellow metal is likely going to remain under pressure as long as it doesn’t surpass the 1,220.90 resistance.
Spot rate: 1,214.75
Relative change: 0.59%
High: 1,220.20
Low: 1,204.10
Trend: Bearish
Resistance 1: 1,220.90 July 18 low
Resistance 2: 1,223.00 consolidation area
Resistance 3: 1,225.90 July 17 low
Resistance 4: 1,232.00 consolidation area
Resistance 5: 1,236.28 July 13 low, key level
Resistance 6: 1,241.50 intraday swing low
Resistance 7: 1,245.65 June 28 low
Support 1: 1,211.17 July 19 low
Support 2: 1,213.70 July 31 low
Support 3: 1,204.00 July 10, 2017 swing low
Support 4: 1,194.30 2017, March 10 low
Support 5: 1,180.62 2017 January 27 low