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SOUTH AFRICA

Manufacturing Remains Muted

WTI TECHS

(M2) Bearish Risk Remains Present

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GOLD TECHS
GOLD TECHS: Focus Back On 2017 High
*RES 4: $1337.4 - Monthly High Nov 9 
*RES 3: $1302.2 - Daily Bull channel top 
*RES 2: $1295.9 - 2017 High June 6 
*RES 1: $1292.5 - Bollinger band top
*PRICE: $1287.5 @ 0240GMT
*SUP 1: $1285.7 - Hourly resistance Aug 14 now support 
*SUP 2: $1277.7 - Alternating hourly support/resistance 
*SUP 3: $1267.7 - Daily Bull channel base 
*SUP 4: $1267.5 - Low Aug 15
*COMMENTARY: Bears failed to capitalise further on the correction lower from
ahead of 2017 highs with gold finding support ahead of the daily bull channel
base and 21-DMA ($1267.2). The close above $1277.7 sees bulls gain breathing
room but a close above 2017 highs is needed to reconfirm the bullish bias. Bears
need a close below $1277.7 to ease bullish pressure and return initial focus to
$1267.2-1267.7.

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