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$1298.9-$1301.7 Break Needed For Near....>

GOLD TECHS

GOLD TECHS: $1298.9-$1301.7 Break Needed For Near Term Respite

*RES 4: $1326.0 May 11 high

*RES 3: $1314.9 May 15 high

*RES 2: $1301.7 May 1 low, now resistance

*RES 1: $1298.9 Hourly resistance

*PRICE: $1297.2 @0841GMT

*SUP 1: $1282.2 May 21 low

*SUP 2: $1267.2 76.4% Fibo of $1236.6-$1366.2

*SUP 3: $1261.5 Equality fall from $1326.0 to $1366.2-$1301.7

*SUP 4: $1252.8 Dec 18 low

*COMMENTARY* Lost support from the key $1286.6-$1286.1 area on Monday which

raises concerns. This the rising support line from the December 2016 lows and

the 61.8% Fibo retrace level of this year's $1236.6-$1366.2 rise. If this can be

sustained, then there is not much to stop an eventual $1267.2, perhaps a lower

$1261.5 fall. In the meantime, $1298.9 currently provides initial resistance,

ahead of the May 1 low at $1301.7. Back above the latter would help.

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