Trading within a triangle *RES 4:........>

GOLD TECHS: Trading within a triangle

*RES 4: $1483.8 - 50% retracement of the Sep 2011-Dec 2015 decline

*RES 3: $1439.7 - High Jun 25 and major resistance

*RES 2: $1435.2 - Triangle resistance

*RES 1: $1427.3 - High Jul 11

*PRICE: $1413.5 @ 07:07 BST Jul 16

*SUP 1: $1400.9 - Low Jul 11

*SUP 2: $1389.1 - Triangle base

*SUP 3: $1385.8 - Low Jul 9

*SUP 4: $1381.8 - Low Jul 1 and major support

Gold is quiet, trading within the broader range that has developed since the

high of Jun 25. This range has taken on the shape of a triangle formation which

by definition is a continuation pattern. If correct, it suggests the current

sideways move will ultimately be resolved to the upside to confirm a resumption

of the uptrend. The key trigger is at the triangle top, today at $1435.2. The

base of the pattern is at $1389.1 and represents a key support.