Gold is trading bullish near $1,206 after dropping to $1,199 today. It’s mostly because the dollar stayed firm on expectations of rising interest rates amid lingering Sino-U.S. trade tensions, and the yellow metal was headed for its fifth straight monthly decline.

Technically, gold has formed a ”three white soldiers ” pattern, which is signaling a strong bullish bias of traders. Gold can face an immediate resistance near $1,208 and the bullish breakout of this level can lead gold prices towards $1,213. On the lower side, the support prevails at $1,201.

Gold – XAU/USD – Key Trading Levels

Support Resistance
1195.17 1205.78
1190.44 1211.65
1179.84 1222.26
Key Trading Level: 1201.05