Correction near-term? *RES 4: $1617.1....>

GOLD TECHS: Correction near-term?

*RES 4: $1617.1 - High Apr 2013

*RES 3: $1600.0 - Psychological round number

*RES 2: $1587.0 - 61.8% retracement of the 2011 to 2015 decline

*RES 1: $1535.1 - High Aug 13

*PRICE: $1494.6 @ 07:27 BST Aug 23

*SUP 1: $1479.7 - Low Aug 13 and key support

*SUP 2: $1471.4 - Low Aug 7

*SUP 3: $1453.1 - High Jul 19

*SUP 4: $1445.1 - Trendline support drawn off the May 30 low

Gold is consolidating but maintains its broader bullish outlook. However from a

short-term perspective, the risk for a correction lower has increased. Key

support lies at $1479.7 where a break is required to signal scope for a deeper

pullback. This would open up scope for a move towards $1453.1. On the upside,

the bull trigger remains $1535.1 where a break would resume the uptrend for

$1587.0, the 61.8% retracement of the 2011 to 2015 decline.