Gold Technical Analysis: Yellow metal bulls taking a breather after reversal attempt

• Gold is trading sideways on Friday as the market is consolidating the bull reversal attempt from Thursday.  
• Gold bulls need to break strongly above the current daily high at $1271.21 a troy ounce in order to claim higher prices towards 1,275.00, the weekly 100-period simple moving average.

Gold 15-minute chart

Spot rate:                    1,267.10

Relative change:          0.11%

High:                           1,271.21
Low:                            1,266.30

Trend:                           Neutral to bullish

Resistance 1: 1,271.21, current Friday’s high
Resistance 2: 1,275.00, 100-period SMA (weekly)
Resistance 3: 1,281.70 May 21 low  
Resistance 4: 1,291.30 supply/demand level

Support 1: 1,266.47 100-period SMA 15-min
Support 2: 1,260.97 current 2018 low
Support 3: 1,250.00 figure