Gold managed a brief dip below the $1282.1 support before bouncing back towards the Bollinger band top ($1314.4) and daily trend line projection, confirming immediate focus on $1319.2-1345.0. Bears now need a close below $1278.9 to ease bullish pressure and below $1266.7 to shift focus back to $1244.6-1252.6. Daily studies remain O/B and the Bollinger top is limiting follow through but while $1278.9 supports a bullish bias dominates.
RES 4: $1345.3 – Monthly High July 10
RES 3: $1324.7 – High July 17
RES 2: $1319.2 – High Aug 14
RES 1: $1312.7 – Daily trend line projection
LPRICE: $1297.1
SUP 1: $1278.9 – Low Jan 22
SUP 2: $1266.7 – Hourly resistance Jan 16 now support
SUP 3: $1252.6 – 200-DMA
SUP 4: $1244.6 – High Jan 14 now support
