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Pops Above Channel Top *RES 4: $1306.1...>

GOLD TECHS
GOLD TECHS: Pops Above Channel Top
*RES 4: $1306.1 - Monthly High Oct 16 
*RES 3: $1299.1 - Monthly High Nov 27 
*RES 2: $1289.5 - Monthly High Dec 1 
*RES 1: $1286.3 - 100-DMA
*PRICE: $1277.8 @ 1030GMT
*SUP 1: $1272.8 - Hourly support Dec 26 
*SUP 2: $1265.7 - 21-DMA 
*SUP 3: $1259.2 - Low Dec 19 
*SUP 4: $1256.5 - Hourly support Dec 18
*COMMENTARY: The recovery from Dec lows now sees the pair flirting with the
55-DMA ($1275.8) and the bear channel top ($1277.8). Bulls now look for a close
above $1289.5 to confirm breaks of the 55-DMA and bear channel top with focus
then shifting to the $1306.1-1320.0 resistance region where monthly highs are
noted. Bears still need a close below the 21-DMA to ease pressure on resistance
layers.

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