Gold is starting to look heavy with recent failures to retake the $1299.7 resistance confirming significance. Bulls need a close above $1299.7 to reconfirm the bullish bias and above $1207.6 to target $1319.2-1345.3. While $1299.7 caps and O/B daily studies begin to weigh, focus shifts to $1244.6-1266.7 where key DMAs are located. Below $1244.6 hints at a deeper correction with below $1201.8 to confirm a shift in focus back to 2014 lows.
RES 4: $1324.7 – High July 17
RES 3: $1319.2 – High Aug 14
RES 2: $1307.6 – 2015 High Jan 22
RES 1: $1299.7 – High Jan 26
PRICE: $1281.7
SUP 1: $1266.7 – Hourly resistance Jan 16 now support
SUP 2: $1252.6 – 200-DMA
SUP 3: $1246.5 – 21-DMA
SUP 4: $1244.6 – High Jan 14 now support
