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Trading Above Channel Top *RES 4:........>

GOLD TECHS
GOLD TECHS: Trading Above Channel Top
*RES 4: $1557.3 - Trend high Sep 4
*RES 3: $1535.8 - High Sep 24
*RES 2: $1519.8 - High Oct 3
*RES 1: $1500.3/5.5 - Channel top drawn off Sep 4 high / Intraday high
*PRICE: $1503.9 @ 06:38 BST Oct 25
*SUP 1: $1480.9 - Low Oct 22
*SUP 2: $1473.9 - Low Oct 11
*SUP 3: $1459.0 - Low Oct 1 and bear trigger
*SUP 4: $1445.8 - 38.2% retracement of Apr 24 - Sep 4 rally
Gold is potentially showing some signs of bullish life. Yesterday, the yellow
metal traded higher and this has brought prices to levels just above the key
bear channel resistance drawn off the Sep 4 high. The channel top intersects at
$1500.3 today. If prices are able to follow through and clear resistance at
$1519.8, a bullish short-term condition will be confirmed opening $1535.8 and
$1557.3. Key support for now is at $1473.9. The focus has shifted to the upside.

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