Former channel top marks key support.....>

GOLD TECHS: Former channel top marks key support

*RES 4: $1587.0 - 61.8% retracement of the Sep 2011-Dec 2015 decline

*RES 3: $1500.0 - Psychological round number

*RES 2: $1483.8 - 50% retracement of the Sep 2011-Dec 2015 decline

*RES 1: $1439.7 - High Jun 25

*PRICE: $1406.9 @ 07:00 BST Jun 27

*SUP 1: $1397.1 - Former bull channel resistance drawn off the Aug 16, 2018 low

*SUP 2: $1371.8 - Trendline support drawn off the May 30 low

*SUP 3: $1357.8 - Low Jun 20

*SUP 4: $1338.7 - Low Jun 18

Gold remains bullish despite the pullback this week. Earlier in the week, we saw

the yellow metal breach resistance at the top of the bull channel that today

intersects at $1397.1. The ability to hold above $1397.1 would maintain the

current bullish tone with the next objective at the 50% retracement level of the

entire Sep 2011-Dec 2015 decline at $1483.8. Gold is overbought and this is a

condition that will be monitored closely. Watch support at $1397.1.