Doji Reversal? *RES 4: $1611.4 - High....>

GOLD TECHS: Doji Reversal?

*RES 4: $1611.4 - High Jan 8 and key resistance

*RES 3: $1600.0 - Round number resistance

*RES 2: $1582.6 - 61.8% retracement of the Jan 8 - Jan 14 decline

*RES 1: $1563.1 - High Jan 10

*PRICE: $1553.1 @ 06:41 GMT Jan 16

*SUP 1: $1536.0 - Low Jan 14 and bear trigger

*SUP 2: $1528.6 - 50% retracement of the Nov 12 - Jan 8 rally

*SUP 3: $1517.3 - Low Jan 2

*SUP 4: $1509.0 - 61.8% retracement of the Nov 12 - Jan 8 rally

Gold is firmer following the bounce off Tuesday's $1536.00 low. The technical

outlook remains bearish however bears should monitor Tuesday's price pattern, a

doji formation. This is a reversal signal and could prove to be an early

indication of a resumption of the broader uptrend. Watch resistance at $1563.1,

Jan 10 high. If breached this would confirm a S/T turn and open $1582.6, a

retracement level. Key support and the bear trigger is at $1536.0.