With gold having recently started to look comfortable below the 21-DMA the precious metal has closed below the triangle base and previous $1292.4 support. Immediate focus shifts to layers of support $1280.1-1284.6 with bears needing a close below $1280.1 to confirm a break lower and see bears targeting the $1240.5 June monthly low. Bulls need a close above $1303.9 to confirm a break of the 21-DMA and ease bearish pressure
RES 4: $1322.8 – High Aug 8
RES 3: $1314.8 – Falling triangle top
RES 2: $1303.9 – High Aug 18
RES 1: $1300.2 – 21-DMA
LPRICE: $1286.7
SUP 1: $1284.6 – 200-DMA
SUP 2: $1281.7 – Bollinger band base
SUP 3: $1280.1 – Low Aug 1
SUP 4: $1258.7 – Low June 17