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Falters Ahead Of The Year's High *RES....>

GOLD TECHS
GOLD TECHS: Falters Ahead Of The Year's High
*RES 4: $1315.7 76.4% Fibo of $1375.4-$1122.6
*RES 3: $1299.2 1.618 swing of $1292.3-$1281.2
*RES 2: $1296.1 Jun 6 high
*RES 1: $1292.3 Aug 11 high
*PRICE: $1284.4 @1625GMT
*SUP 1: $1274.2 Aug 1 high, now support
*SUP 2: $1265.3 Aug 8 high, now support
*SUP 3: $1260.1 Aug 9 low, 6 week rising support line
*SUP 4: $1251.7 Aug 8 low
*COMMENTARY* Rally continued again last week, reaching and then breaking above
the swing target at $1288.1. A high of $1292.3 so far, with the 6 week bull
channel projection at $1295.9, just ahead of the year's previous $1296.1 high.
As a result of some near term overbought conditions, we have seen a pullback
below $1281.2, leaving the Aug 1 high at $1274.4, as next support of note below.
Main support however comes from $1260.1.

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