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$1230 Proving An Obstacle For Bulls......>

GOLD TECHS
GOLD TECHS: $1230 Proving An Obstacle For Bulls
*RES 4: $1309.4 - High June 14 
*RES 3: $1275.9 - 200-dma 
*RES 2: $1266.0 - High July 9 
*RES 1: $1236.0 - Pivot area 
*PRICE: $1223.6 @ 06:08 GMT 
*SUP 1: $1201.0 - 55-dma 
*SUP 2: $1180.9 - Sep 28 
*SUP 3: $1160.4 - Low Aug 16 
*SUP 4: $1122.9 - Low December 15 2016 
Gold failed to break back above $1230 yesterday, a level which is acting as
stiff resistance to further gains. Bulls need to close above here to target the
pivot area at $1236 and the July 9 high. Above here targets the 200-dma, now
intersecting at $1275.9. Bears need to recover the 55-dma to return the focus to
the downside.

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