Holding Above Support

• RES 4: $2030.0 - High Aug 11 and key resistance
• RES 3: $2025.4 - 76.4% retracement of the Aug 7 - 12 sell-off
• RES 2: $2015.7 - High Aug 18 and key near-term resistance
• RES 1: $1992.5 - High Sep 1
• PRICE: $1959.4 @ 07:11 BST Sep 16
• SUP 1: $1906.7 - Low Sep 8
• SUP 2: $1902.9 - Low Aug 26 and key near-term support
• SUP 3: $1863.2 - Low Aug 12 and the reversal trigger
• SUP 4: $1841.2 - Low Jul 22

Gold started the week on a firmer note as it extended the most recent recovery off support at $1906.7, Sep 8 low. The metal however is still trading below a key resistance at $1992.5, the Sep 1 high. A break of this hurdle is required to highlight a stronger bullish outlook that would initially expose $2015.7, the Aug 18 high. On the downside, losses through $1906.7 and $1902.9, Aug 26 low would instead be bearish and expose $1863.2.