Gold Technical Analysis: Yellow Metal reversal attempt – Trading near $1232.00/oz

• Gold is rebounding for the second consecutive day after the metal established a new 2018 low on Thursday at $1,220.90 a troy ounce.
• Gold is gaining bullish momentum as the 50 and 100-period simple moving averages (SMA) have crossed above the 200 SMA.
• Bulls are now trying to close above the 1232.00 level in order to target 1,236.28 July 13 low.

Gold 15-minute chart  

Spot rate:                   1,230.16
Relative change:        0.65%
High:                          1,232.20
Low:                           1,215.51

Trend:                         Bearish / Bullish reversal attempt

Resistance 1:            1,232.00 consolidation area
Resistance 2:            1,236.28 July 13 low
Resistance 3:            1,241.50 intraday swing low
Resistance 4:            1,245.65 June 28 low
Resistance 5:            1,250.00 figure
Resistance 6:            1,254.23 June 28 high
Resistance 7:            1,260.00 figure  
Resistance 8:            1,264.14 June 25 low
Resistance 9:            1,270.00 figure
Resistance 10:           1,286.10 May 21 low

Support 1:                1,225.90 July 17 low
Support 2:                1,220.90 current 2018 low.
Support 3:                1,204.00 July 10, 2017 swing low