Gold Technical Analysis: Gold prints new 2018 low at $1,225.90/oz

Gold lost about $12 as the metal reached a new 2018 low at $1,225.90 a troy ounce.
Gold is now consolidating the steep sell-off. Resistances to the upside are located near 1,232.00 consolidation area and 1,236.28 former 2018 low.
To the downside, bears objective is to reach the 1,220.00 level followed by the 1,204.00 July 10, 2017 swing low.

Flavio Tosti Independent Analyst

Gold 15-minute chart

Spot rate: 1,227.00
Relative change: -1.11%
High: 1,245.01
Low: 1,225.90

Trend: Bearish

Resistance 1: 1,232.00 consolidation area
Resistance 2: 1,236.28 former 2018 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 current 2018 low
Support 2: 1,220.00 figure
Support 3: 1,204.00 July 10, 2017 swing low

Author

Flavio Tosti

Independent Analyst

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