Bulls retain the upper hand as the precious metal consolidates above the $1302.0-1304.8 support region with the 21-DMA noted at $1303.6. While this region supports immediate focus remains on the $1322.8-1324.8 region whereas overall bulls are looking for a retest of the July monthly highs at $1345.3. Bears need a close below $1302.0 to ease bullish pressure and below the 100-DMA to add weight to the bearish case.
RES 4: $1345.3 – Monthly high July 10
RES 3: $1333.7 – Low July 11 now resistance
RES 2: $1324.8 – High July 17
RES 1: $1322.8 – High Aug 8
LPRICE: $1313.0
SUP 1: $1304.8 – Low Aug 13
SUP 2: $1302.0 – Low Aug 7
SUP 3: $1296.6 – 100-DMA
SUP 4: $1290.0 – Rising daily trend line June/Aug lows