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Briefly Above $1300 *RES 4: $1346.8 ...>

GOLD TECHS
GOLD TECHS: Briefly Above $1300
*RES 4: $1346.8        - High Feb 20
*RES 3: $1324.6        - High Mar 25
*RES 2: $1310.7        - High Apr 10
*RES 1: $1303.4        - High May 14
*PRICE: $1297.1        @ 05:41 GMT May 16
*SUP 1: $1291.6        - 55-dma
*SUP 2: $1266.3        - Low May 2
*SUP 3: $1256.8/1249.6 - 200-dma/High Dec 10
*SUP 4: $1243.7        - High Oct 26
Gold briefly made a show above the $1300 handle yesterday before momentum faded,
restricting the short-term outlook to neutral. This keeps the May 15 low &
55-dma in play at $1293.20/1291.90. A break below here would give bears the edge
opening the May 2 low at $1266.3. Below here would open the 200-dma/Dec 10 high
at $1256.8/1249.6. Bulls target the week's high at $1303.4 to extend the rally
towards the April 10 high at $1310.7.

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