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Corrective Bounce *RES 4: $1587.3 -......>

GOLD TECHS
GOLD TECHS: Corrective Bounce
*RES 4: $1587.3 - 20-day EMA
*RES 3: $1575.5 - High Mar 16
*RES 2: $1553.9 - High Mar 17
*RES 1: $1505.5 - Intraday high
*PRICE: $1500.4 @ 06:58 GMT Mar 20
*SUP 1: $1451.6 - Low Mar 16
*SUP 1: $1445.7 - Low Nov 12 and key support
*SUP 3: $1430.5 - Low Aug 2
*SUP 4: $1400.1 - Low Aug 1
Gold is firmer today however these gains are considered corrective. The trend
remains bearish. Price has recently cleared an important trendline support drawn
off the May 30, 2019 low. This reinforced the bearish theme and with momentum
studies also pointing south, further weakness is likely. The break of the
psychological $1500.0 level also highlights the current bearish risk and has
opened $1445.7, the Nov 12 low. Firm resistance is Tuesday's $1553.9 high.

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