Correcting lower *RES 4: $1522.7 - Low...>

GOLD TECHS: Correcting lower

*RES 4: $1522.7 - Low Dec 2011

*RES 3: $1500.0 - Psychological round number

*RES 2: $1483.8 - 50% retracement of the Sep 2011-Dec 2015 decline

*RES 1: $1453.1 - High Jul 19

*PRICE: $1415.4 @ 06:55 BST Jul 23

*SUP 1: $1414.3 - Intraday low

*SUP 2: $1400.2 - Low Jul 17

*SUP 3: $1385.8 - Low Jul 9

*SUP 4: $1381.9 - Low Jul 1 and key support

Gold cleared the top of its triangle formation Thurs that had developed since

the high of Jun 25. A triangle is a continuation pattern and suggested the

sideways move would ultimately be resolved to the upside. Despite trading back

into the triangle, the outlook is bullish and the pullback is corrective.

Potential is for a climb to 1483.8, 50% of the Sep 2011-Dec 2015 decline ahead

of 1500.0. The bull trigger is 1453.1 while support lies at 1400.2.