Bulls Need Close Above $1310.5 *RES 4:...>

GOLD TECHS: Bulls Need Close Above $1310.5

*RES 4: $1326.2 - 100-DMA 

*RES 3: $1321.9 - 55-DMA 

*RES 2: $1310.5 - Low May 10 now resistance 

*RES 1: $1307.1 - 200-DMA

*PRICE: $1302.7 @ 0430GMT

*SUP 1: $1297.8 - High May 23 now support 

*SUP 2: $1287.4 - Low May 22 

*SUP 3: $1281.8 - 2018 Low May 21 

*SUP 4: $1277.6 - 100-WMA

*COMMENTARY: The lack of follow through on recent 2018 lows combined with O/S

studies has provided the impetus for a bounce that sees gold pressuring the

200-DMA. Bulls need a close above $1310.5 to confirm breaks of 21 & 200-DMAs and

shift initial focus to $1321.9-1326.2 where 55 & 100-DMAs are noted. Bears now

need a close below $1297.8 to ease pressure on the 200-DMA and return immediate

focus to 2018 lows.