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Former channel top providing support.....>

GOLD TECHS
GOLD TECHS: Former channel top providing 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: $1413.0 @ 07:53 BST Jun 28
*SUP 1: $1397.6 - Former bull channel resistance drawn off the Aug 16, 2018 low
*SUP 2: $1374.7 - 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. Price action yday and so far today appears promising. We
have held above the former channel top resistance that was breached last week.
Today the channel intersects at 1397.6. Holding above here maintains the current
uptrend and as long as this holds, the focus will be on the potential for a
climb to the 50% retracement of the Sep 2011-Dec 2015 decline at 1483.8. Gold is
overbought and this will be monitored closely. Watch key support at 1397.6.

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