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Third Failure To Overcome 55-DMA *RES....>

GOLD TECHS
GOLD TECHS: Third Failure To Overcome 55-DMA
*RES 4: $1235.2 - High July 26 
*RES 3: $1214.4 - High Aug 28 
*RES 2: $1211.1 - High Sep 21 
*RES 1: $1202.4 - 55-dma 
*PRICE: $1198.1 @ 06:48 GMT 
*SUP 1: $1180.9 - Sep 28 
*SUP 2: $1160.4 - Low Aug 16 
*SUP 3: $1122.9 - Low December 15 2016 
*SUP 4: $1100.0 - Support 
Gold failed once again to close above its 55-dma yesterday despite testing this
level repeatedly, which keeps the outlook neutral. Bulls need to close above the
55-dma at $1202.4 to challenge the Sep 21 high at $1211.1. A break above here
and the Aug 28 just above it would signal a potential bottoming pattern. On the
downside, bears need to break back below the Sep 28 low of $1180.9 before
targeting the Aug 16 lows at $1160.4.

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