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GOLD TECHS: Decline Continues, $1249.3 Now Protects Against $1236.6 Return
*RES 4: $1289.3 Jun 1 low, now resistance
*RES 3: $1282.2 May 21 low, now resistance
*RES 2: $1272.7 Jun 22 high
*RES 1: $1266.7 Hourly resistance
*PRICE: $1257.12 @0934GMT
*SUP 1: $1249.3 3 month bear channel base projection
*SUP 2: $1236.6 Dec 12 low
*SUP 3: $1226.2 Equality fall from $1309.4 to $1365.4-$1282.2
*SUP 4: $1215.7 61.8% Fibo of $1122.6-$1380
*COMMENTARY* Lost support from the key $1286.6-$1286.1 area last month which
raised concerns. This the rising support line at the time, from the December
2016 lows and the 61.8% Fibo retrace level of this year's $1236.6-$1366.2 rise.
Below and we have now seen a further $1267.2-$1262.3 fall. In fact this has now
been exceeded and risk is for a test to the 3 month channel base at $1249.3
next. Resistance $1266.7-$1272.7 but $1282.2 remains more important higher.