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Key $1252.1-$1251.1 Support Area Holds...>

GOLD TECHS
GOLD TECHS: Key $1252.1-$1251.1 Support Area Holds And Prompts Bounce
*RES 4: $1288.1 1.618 swing of $1274.2-$1251.7
*RES 3: $1281.5 Jun 14 high
*RES 2: $1274.6 Jun 6 low, 76.4% Fibo of $1296.1-$1204.8
*RES 1: $1270.9 Aug 3 high
*PRICE: $1267.7 @1001GMT
*SUP 1: $1255.9 Hourly support
*SUP 2: $1251.1/2.1 76.4% of $1243.9-$1274.2, Jul 27 low
*SUP 3: $1243.9 Jul 26 low
*SUP 4: $1239.5 Jul 21 low
*COMMENTARY* Found support on Tuesday from within the important area situated
between the Jul 27 low at $1252.1 and the 76.4% Fibo retrace level at $1251.1.
The subsequent bounce through $1264.3 is encouraging but now needs to break back
above the Aug 3 high at $1270.9, before the overall bias can swing higher and
focus on that 76.4% Fibo retrace level at $1274.6 again. Support meanwhile rises
to the earlier $1255.9 mark. Above $1274.6 and $1281.5-$1288.1 next.

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