Uptrend remains intact *RES 4: $1617.1...>

GOLD TECHS: Uptrend remains intact

*RES 4: $1617.1 - High Apr 2013

*RES 3: $1600.0 - Psychological round number

*RES 2: $1587.0 - 61.8% retracement of the 2011 to 2015 decline

*RES 1: $1535.1 - High Aug 13

*PRICE: $1516.1 @ 07:22 BST Aug 15

*SUP 1: $1479.7 - Low Aug 13

*SUP 2: $1471.4 - Low Aug 7

*SUP 3: $1453.1 - High Jul 19

*SUP 4: $1428.4 - Trendline support drawn off the May 30 low

Gold remains choppy following this weeks volatile price action. The bullish

outlook however remains intact. With the December 2011 low at 1522.8 and May

2012 low of 1527.0 cleared, the focus shifts to 1587.0. This is the 61.8%

retracement of the 2011 to 2015. Overbought conditions in momentum continue to

provide little concern for bulls and this in turn reinforces the underlying

bullish theme. Support lies at 1479.7, a break would allow for a S/T correction.