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Focus Turns to Support


Late Equity Roundup, Peaking Inflation?


BLOCK, Dec Put Fly

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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.

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