Spot gold recovered some lost ground to end last week with it having bounced from just short of the 200-DMA. The close above the $1301.3 level eased the bearish pressure a little with initial support now at $1300.9. The $1315.6-1318.1 region remains key resistance this week with a close above the 21-DMA to hint at further topside and a close above $1324.8 confirming a shift in focus back to the $1345.3 July 10 high.
RES 4: $1324.8 – High July 17
RES 3: $1318.1 – High July 21
RES 2: $1315.0 – 21-DMA
RES 1: $1311.3 – Hourly resistance July 23
LPRICE: $1304.7
SUP 1: $1300.9 – Hourly support July 28
SUP 2: $1286.1 – 200-DMA
SUP 3: $1280.5 – 61.8% Fibonacci 1240.5-1345.3
SUP 4: $1259.9 – Low June 17