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Bullish Pennant Forming *RES 4:..........>

GOLD TECHS
GOLD TECHS: Bullish Pennant Forming
*RES 4: $1365.2 - High April 11 
*RES 3: $1317.6 - 76.4% of 2018 range 1366.15-1160.39 
*RES 2: $1309.4 - High June 14 
*RES 1: $1300.0 - Pivot area 
*PRICE: $1294.0 @ 06:00 GMT Jan 11 
*SUP 1: $1276.7 - Low Jan 4 
*SUP 2: $1248.8 - 200-dma 
*SUP 3: $1241.8 - Low Dec 19 
*SUP 4: $1225.0 - Up trendline support from Aug low 
Gold looks to be forming a bullish pennant just shy of the $1300 pivot area.
This places additional weight on this level as a break would likely trigger a
significant upside move towards the Jun 14 high & 76.4% retracement at
$1309.40/1317.59. Key support sits at Friday's low at $1276.7. Below here would
raise the chances of a bearish reversal, opening the 200-dma at $1248.8.

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