Doji Reversal Defines The Recent Low.....>

GOLD TECHS: Doji Reversal Defines The Recent Low

*RES 4: $1770.1 - 1.236 projection of the Nov - Mar rally from Mar 16 low

*RES 3: $1765.4 - High May 18 and the bull trigger

*RES 2: $1754.0 - High May 20

*RES 1: $1740.3 - High May 22

*PRICE: $1722.0 @ 06:42 BST May 29

*SUP 1: $1694.3 - Low May 27 and key intraday support

*SUP 2: $1692.0 - Low May 11

*SUP 3: $1685.8 - 50-day EMA

*SUP 4: $1676.8 - Low May 7

Gold traded Wednesday but bounced off the day low defining a key S/T support at

$1694.3. Note, Wednesday's price action in candle terms is a doji formation.

This suggests the recent sell-off has run its course and if correct, that the

underlying bull trend is set to resume. Initial resistance that would need to be

cleared is $1740.3, May 22 high. A break would open $1765.4, May 18 high. Sub

$1694.3 levels, would again resume a near-term bearish threat.