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All Eyes On Key Resistance *RES 4:.......>

GOLD TECHS
GOLD TECHS: All Eyes On Key Resistance
*RES 4: $1800.0 - Round number resistance
*RES 3: $1796.1 - High Oct 2012 and a major resistance
*RES 2: $1765.4 - High May 18 and key resistance
*RES 1: $1763.4 - High Jun 22
*PRICE: $1753.7 @ 06:43 BST Jun 23
*SUP 1: $1721.8 - Low Jun 19
*SUP 2: $1704.2 - Low Jun 15 and key intraday support
*SUP 3: $1671.0 - Low May 1 and key support
*SUP 4: $1659.6 - Low Apr 21
Gold is bullish. The yellow metal traded higher again yesterday. The recovery
off the Jun 5 low of $1671.0 is the current dominant directional cycle and with
resistance at $1745.4, Jun 2 high cleared, attention turns to $1765.4, the key
May 18 trend high. Key support and the bear trigger lies at $1671.0. A break is
required to reinstate a short-term bearish threat. Initial firm support though
is at $1704.2, Jun 15 low.

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