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Bearish Pressure To Persist *RES 4:......>

GOLD TECHS
GOLD TECHS: Bearish Pressure To Persist
*RES 4: $1598.0 - High Mar 13
*RES 3: $1587.3 - 20-day EMA
*RES 2: $1575.5 - High Mar 16
*RES 1: $1553.9 - High Mar 17
*PRICE: $1485.9 @ 07:15 GMT Mar 19
*SUP 1: $1451.6 - Low Mar 16
*SUP 1: $1445.7 - Low Nov 12 and key support
*SUP 3: $1430.5 - Low Aug 2
*SUP 4: $1400.1 - Low Aug 1
Gold is likely to continue facing selling pressure. Price has recently cleared
the important trendline support drawn off the May 30, 2019 low. This reinforces
the current bearish theme and with momentum studies also pointing south, further
weakness is likely. The break of the psychological $1500.0 level also highlights
the current bearish risk and this has opened $1445.7, the Nov 12 low. Initial
resistance is at Tuesday's $1553.9 high.

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