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Correcting Lower *RES 4: $1762.5 -.......>

GOLD TECHS
GOLD TECHS: Correcting Lower
*RES 4: $1762.5 - 1.000 Fibonacci extension of Mar 16 - 26 rally from Apr 1 low
*RES 3: $1754.5 - High Nov 22, 2012
*RES 2: $1747.4 - High Apr 15
*RES 1: $1721.0 - High Apr 17
*PRICE: $1674.8 @ 07:19 BST Apr 20
*SUP 1: $1658.2 - 50.0% retracement of the Apr 1 - 14 rally
*SUP 2: $1640.9 - Low Apr 8 and key near-term support
*SUP 3: $1637.2 - 61.8% retracement of the Apr 1 - 14 rally
*SUP 4: $1609.4 - Low Apr 6
Gold is weaker following last week's pullback off the $1747.4 high on Apr 14.
The move lower is likely a correction however is likely to extend further
near-term, retracing the recent strong gains between Mar 16 - Apr 14. Attention
is on $1658.2, 50% of the rally between Apr 1 -14. This level is also close to
the 20-day EMA. A break would expose a deeper pullback towards $1640.9, the Apr
8 low. On the upside, initial resistance is at Friday's $1721.0 high.

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