“¢ The commodity once again managed to bounce off the $1218 horizontal zone and was being supported by weaker USD/US Treasury bond yields. “¢ Subsequent up-move, however, is likely to confront stiff resistance near a confluence resistance, comprising of a short-term descending trend-line and 50-hour SMA. “¢ Technical indicators on the 1-hourly chart hold in negative territory and hence, the uptick might be seen as an opportunity to initiate fresh short positions. Gold 1-hourly chart Spot rate: $1220.63 Daily Low: $1217.67 Daily High: $1223.38 Trend: Bearish Resistance R1: $1222 (confluence region) R2: $1225 (overnight swing high) R3: $1232 (horizontal zone) Support S1: $1217 (over one-week-old horizontal support) S2: $1212 (YTD low set on July 19) S3: $1205 (July 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 Mexico: Q1 GDP likely to substantially decelerate to 0.3% – TDS FX Street 5 years "¢ The commodity once again managed to bounce off the $1218 horizontal zone and was being supported by weaker USD/US Treasury bond yields. "¢ Subsequent up-move, however, is likely to confront stiff resistance near a confluence resistance, comprising of a short-term descending trend-line and 50-hour SMA. "¢ Technical indicators on the 1-hourly chart hold in negative territory and hence, the uptick might be seen as an opportunity to initiate fresh short positions. Gold 1-hourly chart Spot rate: $1220.63 Daily Low: $1217.67 Daily High: $1223.38 Trend: Bearish Resistance R1: $1222 (confluence region) R2: $1225… 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.
