Dips seen as a temporary setback *RES....>

GOLD TECHS: Dips seen as a temporary setback

*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: $1420.8 @ 06:50 BST Jul 24

*SUP 1: $1414.3 - Low Jul 23

*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 last Thursday 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 remains bullish and the pullback is seen as a

correction. Potential is for $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.