Tuesday’s rally saw gold trade marginally above the falling daily trend line from Sept 2012 highs with the close above the 100-DMA, the first since Aug 2014 adding support to the bullish case. Immediate focus remains on the $1224.3 level with a close above confirming a break of the trend line and shifting immediate focus to the $1238.6-1258.5 region. Bears need a close below $1201.7 to end bullish hopes and shift focus lower
RES 4: $1255.7 – 200-DMA
RES 3: $1238.6 – Monthly High Dec 9
RES 2: $1233.0 – Bollinger band top
RES 1: $1224.3 – High Dec 15
LPRICE: $1213.5
SUP 1: $1201.7 – Low Jan 6
SUP 2: $1186.7 – Hourly support Jan 5
SUP 3: $1177.7 – Hourly support Jan 2
SUP 4: $1167.0 – Low Jan 2
