Still Holding Above Former Triangle......>

GOLD TECHS: Still Holding Above Former Triangle Resistance

*RES 4: $1781.0 - Mid Oct high 2012

*RES 3: $1770.1 - 1.236 projection of the Nov - Mar rally from Mar 16 low

*RES 2: $1765.4 - High May 18 and the bull trigger

*RES 1: $1754.0 - High May 20

*PRICE: $1733.8 @ 06:41 BST May 26

*SUP 1: $1718.9/17.0 - 20-day EMA / Low May 21

*SUP 2: $1712.7 - Former triangle resistance

*SUP 3: $1711.2 - Low May 14

*SUP 4: $1692.0 - Low May 11

Gold is trading below recent highs and has thus far managed to find support at

$1717.0, May 21 low. Note that this low is just ahead of the former triangle

resistance-now-support at $1712.7. Furthermore, the 20-day EMA intersects at

$1718.9. The convergence of these technical tools highlights the importance of

$1718.9/12.7 as a key short-term support zone. While it holds, the outlook

remains bullish. The focus is on the recent high of $1765.4.