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Fall Pauses Ahead Of The 50% Fibo........>

GOLD TECHS
GOLD TECHS: Fall Pauses Ahead Of The 50% Fibo Level At $1301.4
*RES 4: $1341.5 Base of broken 10 week bull channel
*RES 3: $1332.8 Apr 24 high
*RES 2: $1327.2 Apr 27 high
*RES 1: $1321.2 Hourly resistance
*PRICE: $1313.0 @1722GMT
*SUP 1: $1301.4/1.7 50% Fibo of $1236.6-$1366.2, May 1 low
*SUP 2: $1299.3 Nov 27 high, now support
*SUP 3: $1286.1 61.8% Fibo of $1236.6-$1366.2
*SUP 4: $1282.2 Rising Weekly support line from Dec 2016
*COMMENTARY* Last month saw a break below the 8 week bull channel, at $1341.5
today, following the failure to reclaim levels back above the year's $1366.2
high earlier in the month. Further loss of the 61.8% Fibo retrace level at
$1326.7, opens the way for a continued fall and with $1307.3 also going,
suggests a test of the year's previous $1302.2 low and 50% Fibo level at
$1301.4. In the meantime, $1321.2-$1327.2 now presents initial resistance.

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