Gold managed the first close below the 200-DMA last week since the sharp move higher mid-June with recent rallies remaining capped ahead of the 100-DMA. Bulls need a close above the 21-DMA to confirm a break of the 100-DMA and falling daily channel top ($1297.1) and an easing of bearish pressure. Overall a close above $1312.3 remains needed to end bearish hopes and shift focus to the $1325.0-1345.3 region.
RES 4: $1312.3 – High July 23
RES 3: $1304.9 – 21-DMA
RES 2: $1303.7 – High July 30
RES 1: $1296.4 – 100-DMA
LPRICE: $1290.1
SUP 1: $1280.1 – Low Aug 1
SUP 2: $1259.9 – Low June 17
SUP 3: $1240.5 – Monthly Low June 3
SUP 4: $1231.6 – Low Jan 23