- Gold is trading in a tight trading range between 1,250.00 and 1,260.00 for the third day in a row.
- After the $50 bear move of the last three weeks gold is now entering a consolidation phase where market participants will decide where the metal will be headed next.
- Bulls need to overcome 1,260.00 while bears need to breakout below 1,250.00.
Gold 15-minute chart
Spot rate: 1,257.40
Relative change: 0.02%
High: 1,259.80
Low: 1,251.00
Trend: Neutral
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 last week’s low
Support 4: 1,237.60 current 2018 low
Support 5: 1,204.00 July 10, 2017 swing low