Recent bounces from $1190.6 resulted in a pop above the 100-DMA ($1215.9) Thursday before gold retreated from ahead of layers of resistance $1225.0-1251.6. Bulls now need a close above $1225.0 to ease bearish pressure and above $1251.6 to confirm breaks of other key DMAs, shifting overall focus back to the 2015 high. Overall while $1225.0 caps a bearish bias remains but bears need a close below $1190.6 to reconfirm overall focus on 2014 & 2015 lows
RES 4: $1245.6 – 200-DMA
RES 3: $1236.9 – High Feb 16
RES 2: $1225.0 – Hourly resistance Feb 17
RES 1: $1219.9 – High Feb 26
PRICE: $1208.7
SUP 1: $1201.1 – Hourly support Feb 25
SUP 2: $1190.6 – Low Feb 24
SUP 3: $1179.6 – Bollinger band base
SUP 4: $1167.0 – Low Jan 2
