Bullis following triangle breakout.......>

GOLD TECHS: Bullis following triangle breakout

*RES 4: $1522.7 - Low Dec 2011

*RES 3: $1500.0 - Psychological round number

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

*RES 1: $1453.1 - High Jul 19

*PRICE: $1426.9 @ 07:06 BST Jul 22

*SUP 1: $1420.2 - Low Jul 19

*SUP 2: $1414.7 - Low Jul 18

*SUP 3: $1400.2 - Low Jul 17

*SUP 4: $1385.8 - Low Jul 9

Gold cleared the top of its triangle formation last Thursday that had developed

since the high of Jun 25. A triangle is by definition a continuation pattern and

suggested the sideways move would ultimately be resolved to the upside. Despite

trading back into the triangle on Friday, the outlook remains bullish. Potential

is for a climb to $1483.8, 50% of the Sep 2011-Dec 2015 decline ahead of

$1500.0. On the downside, support is at $1414.7.