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Fresh trend high *RES 4: $1617.1 -.......>

GOLD TECHS
GOLD TECHS: Fresh trend high
*RES 4: $1617.1 - High Apr 2013
*RES 3: $1600.0 - Psychological round number
*RES 2: $1587.0 - 61.8% retracement of the 2011 to 2015 decline
*RES 1: $1557.3 - High Sep 4
*PRICE: $1537.4 @ 07:21 BST Sep 5
*SUP 1: $1544.6 - Low Sep 4
*SUP 2: $1517.0 - Low Aug 30 and key support
*SUP 3: $1492.4 - Low Aug 22
*SUP 4: $1479.7 - Low Aug 13
Gold is bullish overall confirming a fresh trend high yesterday at $1557.3. The
yellow metal has not followed through on the move higher yet and needs a break
above yesterday's high to confirm a resumption of the uptrend that would open
$1587.0, the 61.8% retracement of the 2011 - 2015 decline. Key support has been
defined at $1517.0 the low of Aug 30. This level needs to hold to maintain a
bullish theme and represents the current risk parameter for bulls.

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