Closes above the Bollinger band top ($1297.4) continue with gold having marginally traded at 5 month highs. Immediate focus now shifts to the $1319.2-1345.0 region last seen in July/Aug 2014. Layers of support continue to develop with bears now needing a close below $1282.1 to ease bearish pressure and below $1266.7 to shift focus back to the $1244.6-1252.6 region where the 200-DMA is located.
RES 4: $1345.0 – High July 10
RES 3: $1324.7 – High July 17
RES 2: $1319.2 – High Aug 14
RES 1: $1303.8 – High Aug 18
LPRICE: $1301.7
SUP 1: $1282.1 – High Jan 16 now support
SUP 2: $1266.7 – Hourly resistance Jan 16 now support
SUP 3: $1252.5 – 200-DMA
SUP 4: $1244.6 – High Jan 14 now support
