Recovery Makes An Initial Test To The....>

GOLD TECHS: Recovery Makes An Initial Test To The 76.4% Fibo Level

*RES 4: $1289.0 Jun 8 high

*RES 3: $1281.5 Jun 14 high

*RES 2: $1274.6 Jun 6 low, 76.4% Fibo of $1296.1-$1204.8

*RES 1: $1271.3 Hourly resistance

*PRICE: $1266.7 @0946GMT

*SUP 1: $1258.9 Jul 24 high, now support

*SUP 2: $1252.1 Jul 27 low

*SUP 3: $1243.9 Jul 26 low

*SUP 4: $1239.5 Jul 21 low

*COMMENTARY* The move back up the 5 month range continued last week, with the

recent move through both the June highs at $1258.9 and also the 61.8% Fibo

retrace level at $1261.2. Last Thursday's $1265.5 high now breached and this

suggests that the 76.4% Fibo retrace level at $1274.6 is the next upside target

and potential barrier. In the interim, support also on the rise, $1258.9

initially and then more importantly in the near term from $1252.1.