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  • Gold has been holding on above $1,250 a troy ounce this Thursday as the metal is in its second day of consolidation after the $19 bull move of Wednesday.
  • Bulls have broken above the current bull flag and have found support at the 200-period simple moving average. However, they are not entirely out of the woods just  as the US Non-Farm Payrolls on Friday is likely going to dictate whether gold will break above 1,260 or will retrace below the 1,250.00 level.  
     

Gold 15-minute chart

Spot rate:                   1,257.40

Relative change:         0.02%

High:                          1,259.80
Low:                           1,251.00

Trend:                         Bullish above 1,250.00

Resistance 1:            1,260.00 figure  
Resistance 2:            1,264.14 June 25 low
Resistance 3:            1,270.00 figure
Resistance 4:            1286.10 May 21 low

Support 1:                1,254.23 June 28 high
Support 2:                1,250.00 figure
Support 3:                1,245.65 last week’s low
Support 4:                1,237.60 current 2018 low
Support 5:                1,204.00 July 10, 2017 swing low