With rallies last week lacking follow through and stalling ahead of the 61.8% Fibo gold tried the downside Thursday but fell short of the $1304.5-1306.3 region. The close below Wednesday’s low added a little weight to the bearish case as do O/B daily studies looking to correct lower, but bears need a close below the 100-DMA to end bullish hopes and see the immediate focus shift to the 200-DMA and overall focus to the June monthly lows.
RES 4: $1359.7 – High Mar 19
RES 3: $1342.4 – High Mar 21
RES 2: $1334.3 – 61.8% Fibonacci 1391.8-1241.3
RES 1: $1324.5 – Hourly resistance July 3
LPRICE: $1316.6
SUP 1: $1306.3 – Low June 26
SUP 2: $1304.5 – 100-DMA
SUP 3: $1299.5 – 21-DMA
SUP 4: $1285.3 – 200-DMA