Gold managed another inside day Monday with the 21-DMA having capped the rally. Bears continue to look for a close below the 100-DMA to confirm an easing of bullish pressure whereas a close below the 55-DMA is needed to hint at further downside. Bulls need to see a close above $1324.8 to confirm bullish pressure and target $1345.3.
RES 4: $1345.3 – High July 10
RES 3: $1333.7 – Low July 11 now resistance
RES 2: $1324.8 – High July 17
RES 1: $1318.1 – High July 17
LPRICE: $1311.3
SUP 1: $1302.9 – 100-DMA
SUP 2: $1293.5 – 55-DMA
SUP 3: $1286.3 – 200-DMA
SUP 4: $1280.8 – 61.8% Fibonacci 1240.5-1345.3