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Below $1315.4 To Target $1289.5-1293.5...>

GOLD TECHS: Below $1315.4 To Target $1289.5-1293.5
*RES 4: $1367.3 - Monthly High Aug 2 2016 
*RES 3: $1357.5 - 2017 High Sept 8 
*RES 2: $1344.5 - 2018 High Jan 15 
*RES 1: $1338.0 - High Jan 19
*PRICE: $1335.9 @ 0530GMT
*SUP 1: $1321.2 - Hourly support Jan 12 
*SUP 2: $1317.2 - 21-DMA 
*SUP 3: $1315.4 - Low Jan 11 
*SUP 4: $1305.9 - Low Jan 4
*COMMENTARY: Gold was rejected ahead of recent 2018 highs last Wed with the
sell-off so far lacking follow through and bulls takin comfort in recovering
lost ground. Momentum studies have corrected to neutral levels but other studies
are correcting from O/B. Bulls need a close above $1344.5 to reconfirm focus on
2017 and then 2016 highs. Bears now look for a close below $1315.4 to target
$1289.5-1293.5 where 55 & 100-DMAs are noted.

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