Gold has been declining for the 5th day in a row and reached a new 2018 low at $1,260.97 a troy ounce this Thursday. The trend is bearish however the bear momentum is slightly slowing down as gold is trading above the 50 and 100-period simple moving average on the 15-minute chart. Bulls will try to regain the 1,270.00 figure while the bears want a retest of the 2018 low at 1,260.97. Gold 15-minute chart Spot rate: 1,267.10 High: 1,270.00 Low: 1,260.97 Trend: Bearish but slowing momentum Resistance 1: 1,270.00 figure 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 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Russia oil min: OPEC committee mostly backing oil output increase FX Street 3 years Gold has been declining for the 5th day in a row and reached a new 2018 low at $1,260.97 a troy ounce this Thursday. The trend is bearish however the bear momentum is slightly slowing down as gold is trading above the 50 and 100-period simple moving average on the 15-minute chart. Bulls will try to regain the 1,270.00 figure while the bears want a retest of the 2018 low at 1,260.97. Gold 15-minute chart Spot rate: 1,267.10 High: … Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
