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Focus Next On $1308.3-$1301.4 As.........>

GOLD TECHS
GOLD TECHS: Focus Next On $1308.3-$1301.4 As Decline Continues
*RES 4: $1346.2 Feb 6 high
*RES 3: $1337.7 Jan 29 low, now resistance
*RES 2: $1332.6 Jan 31 low, now resistance
*RES 1: $1322.7 Hourly resistance
*PRICE: $1310.4 @1120GMT
*SUP 1: $1308.3 Jan 10 low
*SUP 2: $1301.4 50% Fibo of $1236.6-$1366.2
*SUP 3: $1299.3 Nov 27 high, now support
*SUP 4: $1286.1 61.8% Fibo of $1236.6-$1366.2
*COMMENTARY* Paying the price for the inability to push on through $1367.3
resistance. Has gradually given up ground since, most latterly losing support
from the 76.4% Fibo retrace level at $1320.1. As a consequence, focus is now on
the Jan 10 low at $1308.3, this the next downside protection against a deeper
$1301.4-$1286.1 fall. Meanwhile, nearest resistance comes from $1322.7-$1332.6.

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