Triangle breakout confirmed *RES 4:......>

GOLD TECHS: Triangle breakout confirmed

*RES 4: $1522.9 - Low Dec 2011

*RES 3: $1500.0 - Psychological round number

*RES 2: $1483.8 - 50% retracement of the Sep 2011-Dec 2015 decline

*RES 1: $1453.0 - Intraday high

*PRICE: $1441.5 @ 07:19 BST Jul 19

*SUP 1: $1434.9 - Former triangle resistance turned support

*SUP 2: $1414.7 - Low Jul 18

*SUP 3: $1400.2 - Low Jul 17

*SUP 4: $1385.8 - Low Jul 9

Gold cleared the top of the triangle formation that had developed since the high

of Jun 25. A triangle is by definition a continuation pattern and suggested the

current sideways move would ultimately be resolved to the upside. This has been

confirmed and the focus shifts to gains in the yellow metal. Potential is for a

climb to $1483.8, 50% of the Sep 2011-Dec 2015 decline ahead of $1500.0. On the

downside, support is now offered by the former triangle top at $1434.9.