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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: $1296.1 Jun 6 high
*RES 3: $1288.1 1.618 swing of $1274.2-$1251.7
*RES 2: $1281.5 Jun 14 high
*RES 1: $1276.2 Intraday high
*PRICE: $1272.2 @1630GMT
*SUP 1: $1266.1 Hourly support
*SUP 2: $1257.0 Congestion area Aug 1-Aug 3
*SUP 3: $1251.1/2.1 76.4% of $1243.9-$1274.2, Jul 27 low
*SUP 4: $1243.9 Jul 26 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-$1270.9 is encouraging and has broken
briefly above the 76.4% Fibo retrace level at $1274.6, that capped rallies last
month. Support meanwhile rises to $1266.1-$1257.0 ahead of that still important
$1251.1 level. Maintained break above $1274.6 and $1281.5-$1288.1 next.

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