Gains continued for Gold Thursday following the recent flirtations with the 200-DMA. With gold making headway above the 21-DMA ($1304.0) overall focus has now returned to the $1345.3 July monthly high and bears now needing a close below Thursday’s $1302.0 low to ease the renewed bullish pressure. Overall a close below $1280.1 is now needed to end bullish hopes and shift focus back to the June monthly low.
RES 4: $1345.3 – Monthly high July 10
RES 3: $1333.7 – Low July 11 now resistance
RES 2: $1324.8 – High July 17
RES 1: $1320.5 – 61.8% Fibonacci 1345.3-1280.5
LPRICE: $1317.0
SUP 1: $1308.2 – Hourly support Aug 8
SUP 2: $1302.0 – Low Aug 7
SUP 3: $1296.2 – 100-DMA
SUP 4: $1280.1 – Low Aug 1