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55-DMA Support Back In Play *RES 4:......>

GOLD TECHS
GOLD TECHS: 55-DMA Support Back In Play
*RES 4: $1346.8 - High Feb 20 
*RES 3: $1324.6 - High Mar 25 
*RES 2: $1310.7 - High Apr 10 
*RES 1: $1303.4 - High May 14
*PRICE: $1295.4 @ 05:38 GMT May 15 
*SUP 1: $1291.9 - 55-dma 
*SUP 2: $1266.3 - Low May 2 
*SUP 3: $1256.4/1249.6 - 200-dma/High Dec 10 
*SUP 4: $1243.7 - High Oct 26 
Gold's upside momentum faded amid the recovery in risk appetite keeping the
trend of lower highs intact and bringing 55-dma support back into play at
$1291.9. A break below here would give bears the edge opening the May 2 low at
$1266.3. Below here would open the 200-dma/Dec 10 high at $1256.4/1249.6. Bulls
target yesterday's high at $1303.4 to extend the rally towards the April 10 high
at $1310.7. 

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