Below 200-DMA To Target $1235.9 *RES.....>

GOLD TECHS: Below 200-DMA To Target $1235.9

*RES 4: $1344.7 - Low Feb 16 now resistance 

*RES 3: $1340.7 - High Feb 26 

*RES 2: $1330.0 - High Mar 14 

*RES 1: $1321.7 - High Mar 16

*PRICE: $1311.9 @ 0250GMT

*SUP 1: $1309.3 - Low Mar 16 

*SUP 2: $1304.6 - 100-DMA 

*SUP 3: $1302.5 - Low Jan 2 

*SUP 4: $1289.8 - 200-DMA

*COMMENTARY: Despite pressuring the 21-DMA ($1324.0) bulls failed to gain

traction above Friday's losses seeing focus back on $1302.5-1304.6. The

Bollinger base ($1308.4) is the key concern for bears and limits follow through.

Narrowing Bollinger bands hint at a breakout. Bears look for a close below

$1302.5 to hint at a move back to $1235.9 and below the 200-DMA to confirm.

Above $1330.2 is needed to ease bearish pressure.