Weak Close Warns Of Bullish Exhaustion...>

GOLD TECHS: Weak Close Warns Of Bullish Exhaustion 

*RES 4: $1326.0 - High May 11 

*RES 3: $1300.0 - Pivot area 

*RES 2: $1272.3 - 200-dma 

*RES 1: $1266.0 - High July 9 

*PRICE: $1233.3 @ 06:05 GMT 

*SUP 1: $1220.2 - Low Oct 22 

*SUP 2: $1203.7 - 55-dma 

*SUP 3: $1180.9 - Sep 28 

*SUP 4: $1160.4 - Low Aug 16 

Gold remains on an uptrend but Friday's weak close gives cause for cheer for

bears, who target the Oct 22 low at $1220.2 to shift the short-term outlook

negative. Below here would allow a challenge of the 55-dma, a break of which is

needed to shift the broader outlook bearish. Bulls continue to target the July 9

peak at $1266.0 ahead of a return tot he $1300 pivot area.