Gold is starting to look comfortable below the 21-DMA ($1301.2) as it dips back towards the triangle base and remains heavy following a relatively bearish close Tuesday. Bulls now need a close above $1303.9 to ease the mild bearish pressure and above $1324.8 to confirm a break higher. While $1303.8 caps immediate focus remains on the triangle base with a close below $1280.5 needed to shift focus to $1240.5 June lows
RES 4: $1324.8 – High July 17
RES 3: $1322.8 – High Aug 8
RES 2: $1315.8 – Falling triangle top
RES 1: $1303.9 – High Aug 18
LPRICE: $1294.7
SUP 1: $1292.9 – Rising triangle base
SUP 2: $1292.4 – Low Aug 15
SUP 3: $1283.6 – Bollinger band base
SUP 4: $1280.1 – Low Aug 1