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Falling Wedge Gives Way *RES 4:..........>

GOLD TECHS
GOLD TECHS: Falling Wedge Gives Way
*RES 4: $1346.8 - High Feb 20 
*RES 3: $1324.6 - High Mar 25 
*RES 2: $1310.7 - High Apr 10 
*RES 1: $1303.4 - Intraday high
*PRICE: $1299.6 @ 06:06 GMT May 14 
*SUP 1: $1292.3 - 55-dma
*SUP 2: $1266.3 - Low May 2 
*SUP 3: $1256.0/1249.6 - 200-dma/High Dec 10 
*SUP 4: $1243.7 - High Oct 26 
Gold broke above its falling wedge yesterday accelerating the recovery through
the $1300 level. Today's intraday high comes in at $1303.4 with bulls looking to
recover this level to open the April 10 high at $1310.7. The 55-dma now becomes
support at $1292.3 with a break needed to return the focus to the May 2 low at
$1266.3. Below here would open the 200-dma/Dec 10 high at $1256.0/1249.6.

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