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$1319.7-$1317.6 Support As 8 Week Bull...>

GOLD TECHS
GOLD TECHS: $1319.7-$1317.6 Support As 8 Week Bull Channel Base Gives Way
*RES 4: $1350.6 Apr 9 high
*RES 3: $1345.8 Apr 20 high
*RES 2: $1335.8 Apr 23 high
*RES 1: $1332.0 Hourly resistance
*PRICE: $1325.2 @0908GMT
*SUP 1: $1319.7 Apr 6 low
*SUP 2: $1317.6 76.4% Fibo of $1302.8-$1365.4
*SUP 3: $1307.3 Mar 20 low
*SUP 4: $1302.8 Mar 1 low
*COMMENTARY* Monday saw a break below the 8 week bull channel, at $1332.0 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 $1319.7-$1317.6 fall. The latter keeping us away
from a move back towards the year's $1302.2 low. In the meantime, that $1332.0
and then Monday's $1335.8 high provide initial resistance.

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