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$1281.5-$1288.1 The Next Upside Target...>

GOLD TECHS
GOLD TECHS: $1281.5-$1288.1 The Next Upside Target Area
*RES 4: $1296.1 Jun 6 high
*RES 3: $1291.4 One month bull channel top projection
*RES 2: $1288.1 1.618 swing of $1274.2-$1251.7
*RES 1: $1281.5 Jun 14 high
*PRICE: $1279.2 @1040GMT
*SUP 1: $1274.2 Aug 1 high, now support
*SUP 2: $1265.3 Aug 8 high, now support
*SUP 3: $1260.1 Aug 9 low
*SUP 4: $1251.1/2.1 76.4% of $1243.9-$1274.2, Jul 27 low
*COMMENTARY* Found support on Tuesday from within the important area situated
between the Jul 27 low at $1252.1 and the 76.4% Fibo retrace level at $1251.1.
The subsequent bounce has now moved through the 76.4% Fibo retrace level at
$1274.6, that capped rallies last month. Initial support meanwhile rises to that
level, with $1265.3-$1260.1 below, ahead of that still important $1251.1 level.
Maintained break above $1274.6 and $1281.5-$1288.1 next.

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