FX.co ★ Technical analysis of Gold for July 18, 2014

Technical outlook and chart setups:

1. Gold has rallied through $1,324.00 ;eve;s before pulling back. The metal could print highs around the $1,328.00 levels before reversing lower. Recommendations are to exit long positions now and remain flat.

2. Support is seen at $1,260.00 levels, followed by $1,240.00, $1,230.00 and lower while resistance is seen at $1,350.00/60, followed by $1,388.00 and higher.

3. The structure indicates that Gold has turned bullish till prices stay above $1,240.00 levels.

Trading recommendations:

Exit long positions. Remain flat for now.

Good luck!