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  • Gold almost reached $1,266.00 a troy ounce on Monday but the metal has retraced more than 61.8% from its daily bottom to top bull run.  
  • Gold is now trading below its 100-period simple moving average and the 1,260.00 level can act as short-term resistance.
  • Support is seen near 1,254.23 June 28 high and 1,250.00 figure.  

Gold 15-minute chart

Spot rate:                   1,257.40

Relative change:         0.30%

High:                          1,265.90
Low:                           1,254.50

Trend:                         Neutral to bearish

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 June 28 low
Support 4:                              1,237.60 current 2018 low
Support 5:                              1,204.00 July 10, 2017 swing low