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Bounces After $1308.3 Support Came.......>

GOLD TECHS: Bounces After $1308.3 Support Came Under Pressure Last Week
*RES 4: $1352.5 Jan 29 high
*RES 3: $1346.2 Feb 6 high
*RES 2: $1337.7 Jan 29 low, now resistance
*RES 1: $1333.7 3 week falling resistance line
*PRICE: $1328.4 @1635GMT
*SUP 1: $1318.7 Hourly support
*SUP 2: $1311.2 Feb 9 low
*SUP 3: $1307.1 Feb 8 low
*SUP 4: $1301.4 50% Fibo of $1236.6-$1366.2
*COMMENTARY* Paid the price for the inability to push on through $1367.3
resistance. Has gradually given up ground since, most latterly losing support
from the 76.4% Fibo retrace level at $1320.1. As a consequence, focus is now on
support from around the Jan 10 low at $1308.3, this the  protection against a
deeper $1301.4-$1286.1 fall. Meanwhile, resistance comes from $1333.7-$1346.2
but requires above $1352.5 before the topside is returned to favour.

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