Bulls Pause For Breath *RES 4: $1851.7...>

GOLD TECHS: Bulls Pause For Breath

*RES 4: $1851.7 - 2.000 projection of the Jun 5 - 11 rally from Jun 15 low

*RES 3: $1834.3 - 1.764 projection of the Jun 5 - 11 rally from Jun 15 low

*RES 2: $1823.5 - 1.618 projection of the Jun 5 - 11 rally from Jun 15 low

*RES 1: $1818.0 - High Jul 8 and the bull trigger

*PRICE: $1799.8 @ 06:48 BST Jul 17

*SUP 1: $1790.8 - Low Jul 14 and key near-term support

*SUP 2: $1782.3 - 20-day EMA

*SUP 3: $1757.8 - Low Jul 2

*SUP 4: $1747.6 - High Jun 26

Gold traded lower yesterday but remains essentially unchanged and the outlook is

bullish. The yellow metal has cleared $1800.0 and last week's climb reinforced

underlying bullish conditions by maintaining the current positive price sequence

of higher highs and higher lows. The break above $1800.0 sets the scene for

gains towards $1823.52 and $1834.3 next, both Fibonacci projections. Initial

support to watch is $1790.8, Jul 14 low.