Focus Remains On The Downside *RES 4:....>

GOLD TECHS: Focus Remains On The Downside

*RES 4: $1312.3 - High Mar 28 

*RES 3: $1310.7 - High Apr 10 

*RES 2: $1298.0 - Downtrend resistance from Feb highs 

*RES 1: $1291.6 - 100-dma 

*PRICE: $1274.7 @ 05:55 GMT Apr 23 

*SUP 1: $1271.3 - Low Apr 18 

*SUP 2: $1251.3/1249.6 - 200-dma/High Dec 10 

*SUP 3: $1243.5 - High Oct 26 

*SUP 4: $1231.6/1233.0 - 61.8% retracement/Low Dec 14 

Gold failed to recover broken neckline resistance yesterday which now allows

bears to target Thursday's low at $1271.3 to extend the selloff to the

200-dma/Dec 10 high at $1251.3/1249.6. Bulls need to break back above the

100-dma at $1291.6 to stabilise the outlook while a break back above downtrend

resistance at $1298.0 is needed to improve the outlook and open the April 10

high at $1310.7.