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$1315.4 Next Support After 8 Week Bull...>

GOLD TECHS
GOLD TECHS: $1315.4 Next Support After 8 Week Bull Channel Break 
*RES 4: $1350.6 Apr 9 high
*RES 3: $1345.8 Apr 20 high
*RES 2: $1341.0 Apr 19 low, now resistance
*RES 1: $1334.9 Base of broken 9 week bull channel
*PRICE: $1317.3 @0930GMT
*SUP 1: $1315.4 Apr 26 low
*SUP 2: $1307.3 Mar 20 low
*SUP 3: $1302.8 Mar 1 low
*SUP 4: $1286.1 61.8% Fibo of $1236.6-$1366.2
*COMMENTARY* Last Monday saw a break below the 8 week bull channel, at $1334.9
today, following the failure to reclaim levels back above the year's $1366.2
high earlier in the month. Further loss of the 61.8% Fibo retrace level at
$1326.7, opens the way for a continued $1315.4-$1307.3 fall. The latter keeping
us away from a move back towards the year's $1302.2 low. In the meantime, that
$1334.9 level provides initial resistance to any recovery efforts.

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