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GOLD TECHS: $1292.3 Now In Way Of Return To The Year's High
*RES 4: $1315.7 76.4% Fibo of $1375.4-$1122.6
*RES 3: $1299.2 1.618 swing of $1292.3-$1281.2
*RES 2: $1296.1 Jun 6 high
*RES 1: $1292.3 Aug 11 high
*PRICE: $1281.4 @0953GMT
*SUP 1: $1281.2 Aug 11 low
*SUP 2: $1274.2 Aug 1 high, now support
*SUP 3: $1265.3 Aug 8 high, now support
*SUP 4: $1260.1 Aug 9 low
*COMMENTARY* Rally has continued again last week, reaching and then breaking
above the swing target at $1288.1. A high of $1292.3 so far, with the near term
bull channel projection at $1295.9, just ahead of the year's previous $1296.1
high. As a result, nearest support rises to $1281.2, with the Aug 1 high at
$1274.4, currently of more importance below. A sustained break above $1296.1 and
the 76.4% Fibo retrace level at $1315.7 comes back into view.