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

GOLD TECHS
GOLD TECHS: Backs Away After Return To Range Top Last Wednesday
*RES 4: $1365.4/66.2 Apr 11, Jan 25 highs
*RES 3: $1357.7 76.4% Fibo of $1365.4-$1332.8
*RES 2: $1355.8 Apr 18 high
*RES 1: $1350.8 Hourly resistance
*PRICE: $1335.8 @1450GMT
*SUP 1: $1332.8 Apr 13 low
*SUP 2: $1329.2 7 week bull channel base
*SUP 3: $1319.7 Apr 6 low
*SUP 4: $1317.6 76.4% Fibo of $1302.8-$1365.4
*COMMENTARY* Gradually moving back down the 7 week bull channel following the
failure to reclaim levels back above the year's $1366.2 high last week. Now
looking at the Apr 13 low at $1332.8 as protecting the base of the channel, at
$1329.2 by time today. Still currently require a move back above
$1355.8-$1357.7, before the immediate downside risk is reduced and attention
switch back to $1365.4-$1366.2. Lose $1329.2 and look to $1319.7-$1317.6 next.

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