$1238.0 The Initial Bar To Recovery......>

GOLD TECHS: $1238.0 The Initial Bar To Recovery Potential

*RES 4: $1266.0 Jul 9 high

*RES 3: $1253.1 76.4% Fibo of $1266.0-$1211.4

*RES 2: $1245.7 Jul 16 high

*RES 1: $1238.0 Jul 3 low, now resistance

*PRICE: $1226.5 @1604GMT

*SUP 1: $1216.9 Hourly support

*SUP 2: $1211.4 Jul 19 low

*SUP 3: $1204.8 Jul 10 2017 low

*SUP 4: $1195.0 Mar 10 2017 low

*COMMENTARY* Last week slipped below support from the 61.8% Fibo retrace level

at $1215.7 and posted a low of $1211.4, before staging a near term recovery.

This meets first resistance of note from the Jul 3 low at $1238.0. Back above

here would allow a further $1245.7 rise, with the 76.4% Fibo retrace level at

$1253.1 a stiffer test above. Meanwhile, support rises to $1216.9, loss would

caution again, $1204.8 the next support to watch below $1211.4.