After the recent flirtations with the 200-DMA ($1284.3) and remaining capped at the 100-DMA, gold headed sharply higher Wednesday and managed a spike above the 21-DMA In the process. Bears now need to see a close back below the 21-DMA to ease the renewed bullish pressure that sees immediate focus shift to the key $1312.3 resistance. Bulls need a close above $1312.3 to end bearish hopes and target the July monthly high.
RES 4: $1333.7 – Low July 11 now resistance
RES 3: $1324.8 – High July 17
RES 2: $1320.5 – 61.8% Fibonacci 1345.3-1280.5
RES 1: $1312.3 – High July 23
LPRICE: $1306.6
SUP 1: $1304.7 – 21-DMA
SUP 2: $1296.3 – 100-DMA
SUP 3: $1280.1 – Low Aug 1
SUP 4: $1259.9 – Low June 17