Bearish Threat Still Present *RES 4:.....>

GOLD TECHS: Bearish Threat Still Present

*RES 4: $1600.0 - Round number resistance

*RES 3: $1593.6 - 76.4% retracement of the Jan 8 - Jan 14 decline

*RES 2: $1592.1 - High Feb 3 and key near-term resistance

*RES 1: $1579.7 - High Feb 4

*PRICE: $1569.7 @ 07:00 GMT Feb 10

*SUP 1: $1547.6 - Low Feb 5

*SUP 2: $1546.4 - Low Jan 21

*SUP 3: $1536.0 - Low Jan 14 and bear trigger

*SUP 4: $1534.4 - 50-day EMA

Gold is holding onto last week's gains. Conditions overall remain bearish

though. This follows the sharp sell-off on Feb 3 and 4, that resulted in a break

of support at $1563.5, Jan 29 low. This also follows a recent failure to

convincingly clear resistance at $1588.7, the Jan 27 high. A resumption of

weakness would open $1546.4, Jan 21 low ahead of $1536.0, the Jan 14 low and a

key support. A break of $1592.1, Feb 3 high would reinstate a bullish outlook.