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  • Gold is trading in a bull trend above its 200-period simple moving average (SMA) on the 4-hour chart.  
  • Gold is currently retracing to the 1,220.90 support (July 18 low) and the 100 SMA. Bulls should try to support the market here.  
  • Alternatively, a break below the support can lead to a deeper pullback to 1,204.10 (August 3 swing low, key level). A break below  1,204.10 would likely invalidate the current bullish momentum.

Gold 4-hour chart

Main trend:                 Bullish

Resistance 1:            1,237.60 July 3 swing low
Resistance 2:            1,250.00 figure
Resistance 3:            1,265.90 July high
Resistance 4:            1,300.00 figure

Support 1:            1,220.90 July 18 low
Support 2:            1,211.17 July 19 low  
Support 3:            1,204.10, August 3 swing low (key level)
Support 4:            1,182.90 August 24 low
Support 5:            1,172.82 current 2018 low

 

Additional key levels at a glance

XAU/USD

Overview:
       Last Price:  1222.46
       Daily change:  -6.4e+2  pips
       Daily change:  -0.524%
       Daily Open:  1228.9
Trends:
       Daily SMA20:  1224.72
       Daily SMA50:  1208.33
       Daily SMA100:  1207.19
       Daily SMA200:  1249.08
Levels:
       Daily High:  1235.42
       Daily Low:  1223.9
       Weekly High:  1243.43
       Weekly Low:  1219.9
       Monthly High:  1212.64
       Monthly Low:  1180.63
       Daily Fibonacci 38.2%:  1228.3
       Daily Fibonacci 61.8%:  1231.02
       Daily Pivot Point S1:  1223.39
       Daily Pivot Point S2:  1217.89
       Daily Pivot Point S3:  1211.87
       Daily Pivot Point R1:  1234.91
       Daily Pivot Point R2:  1240.93
       Daily Pivot Point R3:  1246.43