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  • Gold has been trading sideways for nine consecutive weeks.
  • Gold is now attempting to break below the 1,182.90-$1,210.00 a troy range.
  • A failed breakout below 1,182.90 (August 24 low) would invalidate the current bearish bias and keep Gold into its current range. Alternatively, a bear breakout below the level can send gold to  1,172.82 (current 2018 low)

Gold 4-hour chart

Spot rate:                   1,186.20
Relative change:         1.33%
High:                          1,204.08
Low:                           1,183.80

Main trend:                 Bearish
Short-term trend:        Bullish  

Resistance 1:            1,189.49 September 4 low
Resistance 2:            1,194.30 March 10, 2017 low
Resistance 3:            1,204.10, August 3 swing low (key level)
Resistance 4:            1,211.17 July 19 low  
Resistance 5:            1,214.30 August 28 high
Resistance 6:            1,217.89-1,220.90 zone, August 6 high and July 18 low
Resistance 7:            1,225.90 July 17 low
Resistance 8:            1,237.60 July 3 swing low

Support 1:            1,182.90 August 24 low
Support 2:            1,172.82 current 2018 low
Support 3:            1,145.20 March, 1 2017 low