After recently finding support at $1225.0 gold headed sharply higher Thursday and managed the first close above the 200-DMA since late Aug. This adds support to the bullish case with focus on the $1297.0-1325.0 region. Bears need a close below the 200-DMA to ease bullish pressure and below $1244.6 to shift immediate focus to the $1225.0 support and hint at a deeper correction. O/B daily studies and Bollinger band tops remain concerns for bulls.
RES 4: $1319.2 – High Aug 15
RES 3: $1303.8 – High Aug 18
RES 2: $1297.0 – High Aug 28
RES 1: $1282.1 – 2015 High Jan 16
LPRICE: $1276.0
SUP 1: $1266.7 – Hourly resistance Jan 16 now support
SUP 2: $1252.5 – 200-DMA
SUP 3: $1244.6 – High Jan 14 now support
SUP 4: $1225.0 – Low Jan 14
