- Gold is trading in a bear trend but has been trapped in a range between 1,180.00 and $1,210.00 a troy ounce for several weeks.
- Gold is breaking out towards the higher part of the range as it is trading near 1,200.00. The next target is 1,211.17 (July 19 low).
- Since the range has been holding for so many weeks it remains to be seen what happens if the market reaches 1,211.17 resistance
Spot rate: 1,201.00
Relative change: 1.09%
High: 1,202.00
Low: 1,188.10
Main trend: Bearish
Short-term trend: Bullish
Resistance 1: 1,204.10, August 3 swing low (key level)
Resistance 2: 1,211.17 July 19 low
Resistance 3: 1,214.30 August 28 high
Resistance 4: 1,217.89-1,220.90 zone, August 6 high and July 18 low
Resistance 5: 1,225.90 July 17 low
Resistance 6: 1,237.60 July 3 swing low
Support 1: 1,194.30 March 10, 2017 low
Support 2: 1,189.49 September 4 low
Support 3: 1,182.90 August 24 low
Support 4: 1,172.82 current 2018 low
Support 5: 1,145.20 March, 1 2017 low
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