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Bulls still in charge *RES 4: $1617.1....>

GOLD TECHS
GOLD TECHS: Bulls still in charge
*RES 4: $1617.1 - High Apr 2013
*RES 3: $1600.0 - Psychological round number
*RES 2: $1587.0 - 61.8% retracement of the 2011 to 2015 decline
*RES 1: $1555.3 - High Aug 26
*PRICE: $1545.3 @ 07:06 BST Aug 29
*SUP 1: $1521.9 - Low Aug 27
*SUP 2: $1492.4 - Low Aug 22
*SUP 3: $1479.7 - Low Aug 13 and key support
*SUP 4: $1471.4 - Low Aug 7
Gold is bullish following fresh trend highs Monday. This maintains the price
sequence of higher highs and higher lows. The focus is on $1587.0, 61.8% of the
2011 - 2015 decline. Support has been defined at $1492.4, the Aug 22 low where a
break is required to neutralise the current rally. Note a bearish candle
formation, a gravestone doji was confirmed on Monday's close and is a potential
bearish warning sign for bulls. Additional confirmation is needed though.

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