Gold Technical Analysis: Yellow Metal back to the drawing board near $1255.00/oz

• Gold is trading in a tight range between 1,254.00 and $1,256.00 a troy ounce where it spent most of its time last week.
• Gold is struggling to find a clear direction as the metal is in a consolidation phase after the strong decline of the last weeks. 
• As gold failed to the downside at 1,247.00, in the near-term the market might try to retest the extremes of the week’s range to the upside near 1,260.00 and 1,264.00.  

Gold 15-minute chart 

Spot rate:                   1,255.67

Relative change:         -0.15%

High:                          1,260.31
Low:                           1,247.00

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 June 28 low
Support 4:                1,237.60 current 2018 low
Support 5:                1,204.00 July 10, 2017 swing low