Breakout Continues *RES 4: $1503.5 -.....>

GOLD TECHS: Breakout Continues

*RES 4: $1503.5 - Upper trend channel on monthly chart

*RES 3: $1494.8 - Up trendline resistance on weekly chart

*RES 2: $1483.8 - 50% retracement of the Sep 2011-Dec 2015 decline

*RES 1: $1474.9 - Intraday high

*PRICE: $1458.9 @ 08:41 BST Aug 6

*SUP 1: $1453.1 - Jul 19 high (previous resistance)

*SUP 2: $1430.5 - Aug 2 low

*SUP 3: $1400.2 - Low Jul 17

*SUP 4: $1381.9 - Low Jul 1 and key support

Both the short-term and long-term technical pictures point to further moves

higher for gold. Focus now turns to $1483.80. This marks the 50% retracement of

the September 2011- December 2015 decline. The 50-wma has also broken back above

the 100-wma for the first time this year, reinforcing the bullish outlook. Bears

need to close back below the previous resistance at $1453.1 to initially reduce

bullish momentum.