Trend Needle Points North

• RES 4: $1909.8 - High May 5
• RES 3: $1842.7 - 50.0% retracement of the Mar - Sep bear leg
• RES 2: $1833.0 - High Jun 29
• RES 1: $1807.9/10.0 - High Aug 10 and key resistance / High Dec 5
• PRICE: $1787.5 @ 07:14 GMT Dec 13
• SUP 1: $1763.7 - 20-day EMA
• SUP 2: $1729.0 - Low Nov 23 and key short-term support
• SUP 3: $1702.3 - Low Nov 9
• SUP 4: $1664.8 - Low Sep 8

Trend conditions in Gold remain bullish and recent pullbacks appear to be a correction. A fresh trend high on Dec 5 reinforced a bullish theme and price has recently breached $1786.5, the Nov 15 high and a bull trigger, confirming a resumption of the uptrend. $1800.0 has been cleared and sights are on $1807.9, the Aug 10 high that has been pierced. A clear break would be bullish. Key trend support is at $1729.0, the Nov 23 low.