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Bulls Need Close Above 200-DMA *RES 4:...>

GOLD TECHS
GOLD TECHS: Bulls Need Close Above 200-DMA
*RES 4: $1317.4 - Low May 11 now resistance 
*RES 3: $1310.5 - Low May 10 now resistance 
*RES 2: $1306.7 - 200-DMA 
*RES 1: $1301.5 - Low May 1 now resistance
*PRICE: $1297.1 @ 0930GMT
*SUP 1: $1286.2 - 2018 Low May 16 
*SUP 2: $1277.7 - 100-WMA 
*SUP 3: $1268.9 - High Dec 21 
*SUP 4: $1234.4 - 200-WMA
*COMMENTARY: The rejection around key DMAs Friday has resulted in fresh 2018
lows and closes below the 55-WMA ($1297.7) and 200-DMA with bears initially
focused on $1268.9-1277.7 where the 100-WMA is situated. Daily studies are well
placed for a fresh leg lower. Layers of resistance have been left in the wake
with bulls now needing a close above the 200-DMA to gain breathing room.

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