Correcting Lower After Rally Falters.....>

GOLD TECHS: Correcting Lower After Rally Falters Ahead of $1367.3

*RES 4: $1366.2/67.3 Jan 25, Aug 1 highs 

*RES 3: $1357.3 Jan 26 high

*RES 2: $1351.1 Feb 1 high

*RES 1: $1342.1 Hourly resistance

*PRICE: $1335.5 @1734GMT

*SUP 1: $1327.9 Jan 10 high, now support

*SUP 2: $1324.3 Jan 18 low

*SUP 3: $1320.1 76.4% Fibo of $1305.9-$1366.2

*SUP 4: $1316.7 38.2% Fibo of $1236.6-$1366.2

*COMMENTARY* The move above the 76.4% Fibo retrace level at $1284.5 gave the

upside the impetus it required. This makes the $1357.7-$1236.6 fall seen from

last September look like a three wave correction. The subsequent break through

$1337.1 the next upside boost, as we made our way back through the Sep 4 high at

$1357.7. This sees $1367.3-$1375.4 as next resistance ahead of the 38.2% Fibo at

$1380.3. Support moving lower, $1327.9-$1320.1 the potential pullback area.