Gold Technical Analysis: Yellow Metal trapped in range near $1,250.00/oz

• 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