The move towards the $1253.8-1257.3 region continues with gold taking out the $1238.6 resistance level in Asia. The Bollinger band top ($1233.4) remains the key concern for bulls and is currently limiting follow through. In saying that, bears now need a close below hourly support at $1230.6 to ease bullish pressure and below $1217.6 to shift focus back to the $1191.8-1201.7 region where 21 & 55-DMAs are located
RES 4: $1264.3 – 55-WMA
RES 3: $1257.3 – Low Sept 3 now resistance
RES 2: $1254.2 – 200-DMA
RES 1: $1239.8 – Hourly resistance Jan 13
LPRICE: $1234.7
SUP 1: $1230.6 – Hourly support Jan 13
SUP 2: $1217.6 – Low Jan 12
SUP 3: $1201.7 – Low Jan 6
SUP 4: $1191.8 – 55-DMA
