After finding support at the 55-DMA Tuesday gold has recovered lost ground and currently trades marginally above the 100-DMA ($1303.6). Bulls look for a close above the 100-DMA to confirm an easing of bearish pressure whereas a close above the 21-DMA is needed to end bearish hopes and shift immediate focus back to the $1333.7-1345.3 region. Bears need a close below the 100-DMA to retain control and immediate focus on the 55-DMA.
RES 4: $1345.3 – High July 10
RES 3: $1333.7 – Low July 11 now resistance
RES 2: $1323.5 – Hourly resistance July 14
RES 1: $1316.4 – 21-DMA
LPRICE: $1304.2
SUP 1: $1293.0 – 55-DMA
SUP 2: $1285.5 – 200-DMA
SUP 3: $1280.8 – 61.8% Fibonacci 1240.5-1345.3
SUP 4: $1276.0 – Low June 19