Decline Holds Above Last December's......>

GOLD TECHS: Decline Holds Above Last December's Low

*RES 4: $1282.2 May 21 low, now resistance

*RES 3: $1272.7 Jun 22, Jun 25 highs

*RES 2: $1264.5 Congestion area Jun 21-26 

*RES 1: $1261.2 Jun 21 low

*PRICE: $1254.2 @0841GMT

*SUP 1: $1243.5 Hourly support

*SUP 2: $1236.6 Dec 12 low

*SUP 3: $1226.2 Equality fall from $1309.4 to $1365.4-$1282.2

*SUP 4: $1224.5 Equality fall from $1272.7 to $1309.4-$1261.2

*COMMENTARY* Lost support from the key $1286.6-$1286.1 area toward the end of

May. 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 with

the $1267.2-$1262.3 supports now lost and the base of the 3 month bear channel

base exceeded, this leaves the Dec 12 low at $1236.6 as next support on the

agenda. Any lower and look to two equality fall targets between $1226.2-$1224.5.