- 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.
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