Gold Technical Analysis: Yellow Metal parked below 1,237.60 resistance

• Gold is trading in a bull trend above its 200-period simple moving average (SMA) on the 4-hour chart.
• Gold is dwelling just below 1,237.60 resistance. The RSI and MACD are bullish while the Stochastic is in overbought territory. Bulls need to overcome 1,237.60 resistance in order to make further advances towards 1,250.00 figure and 1,265.90 (July high).
• A break below 1,220.90 (July 18 low) could open the doors to 1,182.90 (August 24 low). 

Gold 4-hour chart

Main trend:                 Bullish

Resistance 1:            1,237.60 July 3 swing low
Resistance 2:            1,250.00 figure
Resistance 3:            1,265.90 July high
Resistance 4:            1,300.00 figure

Support 1:            1,220.90 July 18 low
Support 2:            1,211.17 July 19 low 
Support 3:            1,204.10, August 3 swing low (key level)
Support 4:            1,182.90 August 24 low
Support 5:            1,172.82 current 2018 low

Additional key levels at a glance: