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GOLD TECHS: Triangular Consolidation Above 7 Week Rising Support Line
*RES 4: $1315.7 76.4% Fibo of $1375.4-$1122.6
*RES 3: $1307.7 1.618 swing of $1292.3-$1267.4
*RES 2: $1300.9 Aug 18 high
*RES 1: $1296.1 Hourly resistance
*PRICE: $1287.6 @0910GMT
*SUP 1: $1280.6 Aug 18 low, 7 week rising support line
*SUP 2: $1274.2 Aug 1 high, now support
*SUP 3: $1267.4 Aug 15 low
*SUP 4: $1260.1 Aug 9 low
*COMMENTARY* A triangular consolidation has ensued following last week's rally
to $1300.9. So far, this has found $1280.6 for support, also the level of the 7
week rising support line by time today. For the rally to continue, will need to
regain $1296.1 initially, that $1300.9 thereafter, with $1307.7-$1315.7 the next
likely target area higher. Loss of $1280.6 will caution, $1274.2 providing some
back up but $1267.4 again important below.