###POV Key Long Term Supports Under......>

GOLD TECHS: ###POV Key Long Term Supports Under Attack

- A double weekly top around the 2018 high ($1366.10) back in early Apr set the

scene for a correction lower that sees gold pressuring the LT rising TL off Dec

17 2015 lows coming in around $1239.1 and the 200-WMA ($1233.80). Gold remains

offered with O/S daily and weekly studies being the key concerns for bears.

- LT Traders initially look for a close below the 200-WMA to confirm breaks of

key supports and shift immediate focus to $1180.65-1204.45 where July 2017 lows

are noted. A close below $1180.65 is needed to confirm focus on $1122.35 Dec

2016 monthly lows.

- The $1210.51 May 10 low is key resistance for LT Traders. A close above this

level is needed to confirm a break of the 21-WMA ($1309.30) and shift focus back

to $1366.10-1374.91 where 2018 & 2016 highs are situated.

- Click for chart https://tinyurl.com/ybynq3e5

- Click for chart https://tinyurl.com/y85bvwza