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Bullish Outlook Intact *RES 4: $1554.1...>

GOLD TECHS
GOLD TECHS: Bullish Outlook Intact
*RES 4: $1554.1 - High Sep 5
*RES 3: $1535.7 - High Sep 24
*RES 2: $1519.7 - High Oct 3 and key resistance
*RES 1: $1515.9 - Intraday high
*PRICE: $15131 @ 07:06 GMT Dec 30
*SUP 1: $1497.6 - Low Dec 26
*SUP 2: $1475.6 - Former channel top drawn off the Sep 14 high
*SUP 3: $1470.5 - Low Dec 18
*SUP 4: $1462.5 - Low Dec 13
Gold is bullish. Last week saw the yellow metal trade through key resistance at
$1481.00. This marked the top of the bear channel drawn off the Sep 14 high. The
move represents an important technical break and was reinforced by the
subsequent breach of resistance at 1486.8, Dec 12 high. Attention is on the next
key resistance at $1519.7, Oct 3 high. A break would open $1535.7, Sep 24 high.
Initial support is at $1497.6.

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