FX.co ★ Technical analysis of Gold for July 24, 2018

The Gold price remains inside the downward sloping wedge pattern. The Gold price got rejected at the upper wedge boundary yesterday.

Red line - bullish divergence

The Gold price continues to make lower lows and lower highs. The trend remains bearish. Support is at $1,212 and next at $1,200. Resistance is at $1,230 and $1,235. Bulls need to break out above the wedge pattern for a bigger bounce to come. The bullish divergence signs justify a bigger bounce.