Gold Technical Analysis: Trading below $1,236.00/oz ahead of Trump-Juncker meeting

• Gold tried to rally above the weekly high but found selling interest close to $1,234.00 a troy ounce.  
• Gold is trading sideways for the sixth consecutive day, however, gold is likely to stay under pressure as long as it trades below the key level at 1,236.28, the July 13 low. Supports to the downside are seen near 1,225.90 July 17 low and 1,220.90 July 18 low.  
• The Trump-Juncker meeting scheduled at 17:30 GMT is likely to provide volatility in USD-related assets including gold.  

Gold 15-minute chart  

Spot rate:                   1,229.10
Relative change:        0.39%
High:                          1,234.18
Low:                           1,223.00

Trend:                         Bearish  

Resistance 1:            1,225.90 July 17 low
Resistance 2:            1,232.00 consolidation area
Resistance 3:            1,236.28 July 13 low, key level
Resistance 4:            1,241.50 intraday swing low
Resistance 5:            1,245.65 June 28 low
 

Support 1:                1,225.90 July 17 low
Support 2:                1,220.90 July 18 low
Support 3:                1,211.17 current 2018 low
Support 4:                1,204.00 July 10, 2017 swing low