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Downside Momentum Builds *RES 4:.........>

GOLD TECHS
GOLD TECHS: Downside Momentum Builds
*RES 4: $1312.3 - High Mar 28 
*RES 3: $1310.7 - High Apr 10 
*RES 2: $1303.0 - Downtrend resistance from Feb highs 
*RES 1: $1290.2 - 100-dma
*PRICE: $1271.8 @ 05:54 GMT Apr 18 
*SUP 1: $1253.6 - 50% retracement 
*SUP 2: $1251.1/1250.8 - High Dec 10/200-dma
*SUP 3: $1243.5 - High Oct 26
*SUP 4: $1231.6/1233.0 - 61.8% retracement/Low Dec 14
Gold's selloff has extended following the break below key neckline support. The
next target is down at the 50% retracement of the Aug-Feb rally at $1253.6play
ahead of the Dec 10 high/200-dma at $1251.1/1250.8. Bulls need to break back
above the 100-dma at $1290.2 to stabilise the outlook while a break back above
downtrend resistance at $1303.0 is needed improve the outlook and open the April
10 high at $1310.7.

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