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Downside Extends *RES 4: $1770.1 -.......>

GOLD TECHS
GOLD TECHS: Downside Extends
*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: $1706.7 @ 06:32 BST May 27
*SUP 1: $1699.3 - Low May 13
*SUP 2: $1692.0 - Low My 11 and key intraday support
*SUP 3: $1684.9 - 50-day EMA
*SUP 4: $1676.8 - Low May 7
Gold traded lower again yesterday, extending the current pullback since peaking
at $1765.4 on May 18. With fresh lows printed overnight, the risk is for a
continued move lower and attention turns to support at $1699.3, May 13 low and
$1692.0, May 11 low. A break of the latter would expose $1676.8, May 7 low. From
a broader perspective, the move lower is considered a correction. Resistance is
at $1740.3, May 22 high and $1754.1, May 20 high.

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