An inside day to end the week saw gold find support ahead of the 100-DMA with a close below this level needed to confirm an easing of bullish pressure. Overall bears look for a close below the 55-DMA to hint at further downside with a close below the 200-DMA needed to confirm a shift in focus back to the $1240.5 June monthly low. Bulls need to see a close above $1324.8 to confirm bullish pressure and target $1345.3.
RES 4: $1345.3 – High July 10
RES 3: $1338.2 – Bollinger band top
RES 2: $1333.7 – Low July 11 now resistance
RES 1: $1324.8 – High July 17
LPRICE: $1311.4
SUP 1: $1303.1 – 100-DMA
SUP 2: $1293.5 – 55-DMA
SUP 3: $1286.1 – 200-DMA
SUP 4: $1280.8 – 61.8% Fibonacci 1240.5-1345.3