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$1315.5 Next Support After 8 Week Bull...>

GOLD TECHS
GOLD TECHS: $1315.5 Next Support After 8 Week Bull Channel Break 
*RES 4: $1350.6 Apr 9 high
*RES 3: $1345.8 Apr 20 high
*RES 2: $1335.8 Apr 23 high
*RES 1: $1333.0 Hourly resistance
*PRICE: $1317.6 @1638GMT
*SUP 1: $1315.5 Hourly support
*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* Monday saw a break below the 8 week bull channel, at $1333.0 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 $1317.6-$1315.5 fall. The former likely keeping us
away from a move back towards the year's $1302.2 low. In the meantime, that
$1333.0 and then Monday's $1335.8 high provide initial resistance.

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