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GOLD TECHS: $1302.2 Support Protects Against Any Corrective Action
*RES 4: $1357.7 Sep 4 high
*RES 3: $1334.8 Sep 13 high
*RES 2: $1329.1 76.4% Fibo of $1357.7-$1236.6
*RES 1: $1321.6 Jan 2 high
*PRICE: $1316.8 @1650GMT
*SUP 1: $1302.2 Jan 1 low
*SUP 2: $1289.2 Dec 27 high, now support
*SUP 3: $1276.3 Dec 22 high, now support
*SUP 4: $1268.0 Dec 20 high, now support
*COMMENTARY* The move above $1267.8 triggered immediate upside interest, further
aided by the recovery through the 76.4% Fibo retrace level at $1284.5. This
makes the $1357.7-$1236.6 fall seen from last September look like a three wave
correction. Today we have broken through $1311.4-$1313.8 resistance. A sustained
hold above and look to $1329.1 as the next target. Meanwhile, support from
$1302.2 protects against any corrective potential.

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