Gold continues to work its way towards the $1240.5 June monthly low with the sell-off again dipping below the Bollinger band base. The Bollinger band base appears to be limiting downside follow through at present as is often the case but bears remain firmly focused on June lows while $1280.0 caps. Bulls now need a close above $1258.6 to confirm an easing of bearish pressure and above $1303.4 to shift overall focus higher
RES 4: $1289.9 – High Sept 1
RES 3: $1280.0 – Low Aug 27 now resistance
RES 2: $1264.4 – Previous hourly support now resistance
RES 1: $1258.6 – High Sept 9
LPRICE: $1247.0
SUP 1: $1243.8 – Low June 10
SUP 2: $1240.5 – Monthly low June 3
SUP 3: $1231.6 – Low Jan 23
SUP 4: $1218.5 – Low Jan 8