GOLD TECHS: Shows Above Key Resistance

• RES 4: $2063.0 - High May 4
• RES 3: $2022.6 - High May 12
• RES 2: $1993.8 - 2.0% 10-dma envelope
• RES 1: $1987.5 - High Jul 20
• PRICE: $1966.8 @ 08:45 BST Jul 21
• SUP 1: $1934.4 - 20-day EMA
• SUP 2: $1902.8/1893.1 - Low Jul 6 / Jun 29 and the bear trigger
• SUP 3: $1885.8 - Low Mar 15
• SUP 4: $1865.8 - 76.4% retracement of the Feb 28 - May 4 bull cycle

Gold shows at a new cycle high early Thursday, adding to recent gains and topping key resistance at 1985.3, the May 24 high. A close above here could presage a stronger reversal higher. Strength follows the break of the 50-day EMA at 1948.3. The break signalled scope for a continuation of the current corrective cycle. This opens $1968.00, the Jun 16 high. Key support and the bear is at $1893.1, the Jun 29 low.