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Still Struggling To Mount A Rally *RES...>

GOLD TECHS
GOLD TECHS: Still Struggling To Mount A Rally
*RES 4: $1266.0 - High July 9 
*RES 3: $1235.2 - High July 26 
*RES 2: $1216.7 - 55-DMA 
*RES 1: $1214.4 - High Aug 28 
*PRICE: $1194.1 @ 06:26 GMT 
*SUP 1: $1183.2 - Low Aug 24 
*SUP 2: $1160.4 - Low Aug 16 
*SUP 3: $1150.0 - Support 
*SUP 4: $1122.9 - Low December 15 2017 
Gold remains in its broader downtrend as bulls were unable to recover the $1200
level yesterday despite a strong attempt in late trading. This keeps the focus
on the Aug 24 low at $1183.2 which is the last line of defense before the Aug 16
low at $1160.4. A break below here would deliver further damage to the long-term
picture. Bulls need to recover the Aug 28 high at $1214.4, above which would
suggest a base is forming.

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