Backs Away After Return To Range Top.....>

GOLD TECHS: Backs Away After Return To Range Top Last Wednesday

*RES 4: $1375.4 Jul 2016 high

*RES 3: $1366.2 Jan 25 high

*RES 2: $1360.6 Hourly high Apr 11

*RES 1: $1353.6 Hourly high Apr 10

*PRICE: $1342.5 @0907GMT

*SUP 1: $1331.1 Apr 10 low

*SUP 2: $1327.0 Apr 9 low

*SUP 3: $1326.3 5 week rising support line

*SUP 4: $1319.7 Apr 6 low

*COMMENTARY* $1315.6 support was protected by the $1319.7 level earlier in the

month. The subsequent rise moved back above pivotal $1341.3 resistance. This

suggested scope to once again investigate the top of the recent range and indeed

subsequently saw a move back toward $1366.2 last Wednesday. As a result,

overbought near term, a low of 1332.8 since. Back below $1331.1 would concern

again and pressure the rising support line. Resistance between $1353.6-$1360.6.