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Channel Top Gives Bears Some Breathing...>

GOLD TECHS
GOLD TECHS: Channel Top Gives Bears Some Breathing Room 
*RES 4: $1388.0 - High Mar 14, 2014 
*RES 3: $1365.2 - High April 11 
*RES 2: $1360.0 - Downtrend resistance from July 11 high 
*RES 1: $1346.8 - High Feb 19, channel top 
*PRICE: $1342.6 @ 05:54 GMT Feb 20 
*SUP 1: $1302.5 - Low Feb 14 
*SUP 2: $1298.6 - High Jan 4, now support 
*SUP 3: $1276.8 - Low Jan 21 
*SUP 4: $1246.3 - 200-dma 
Gold's rally advanced the top end of its trend channel yesterday before giving
back some gains, with bulls now looking for a close above $1346.8 to accelerate
gains. Above here would bring down trendline resistance from the July 11 high
into play at $1360.0. On the downside bears target the Feb 14 low at $1302.5,
below here would shift the near term outlook negative and open a run at the Jan
21 low at $1276.8.

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