GOLD TECHS: Pivotal $1165.5 Resistance Under...
GOLD TECHS: Pivotal $1165.5 Resistance Under Assault Today
*RES 4: $1197.1 Nov 28 high
*RES 3: $1187.5 Dec 2 high
*RES 2: $1179.8 Dec 7 high
*RES 1: $1172.3 Nov 25 low, now resistance
*PRICE: $1165.2 @1337GMT
*SUP 1: $1156.4 Intraday low
*SUP 2: $1151.4 Initial recovery high Jan 3, now support
*SUP 3: $1146.5 Jan 3 low
*SUP 4: $1142.3 Dec 19 high, now support
*COMMENTARY: After an earlier dip to $1146.3, Tuesday saw the beginning of a revival, which today has taken us above the pivotal $1165.5 resistance. Need to sustain this, if the correction is to continue, with $1179.8-$1187.5 the next target area above. Meanwhile, support rises to the day's $1156.4 low and ideally this now holds, if the recovery is to continue at this stage.