Likely To Correcting Lower *RES 4:.......>

GOLD TECHS: Likely To Correcting Lower

*RES 4: $1762.5 - 1.000 Fibonacci extension of Mar 16 - 26 rally from Apr 1 low

*RES 3: $1754.5 - High Nov 22, 2012

*RES 2: $1747.4 - High Apr 15 and bull trigger

*RES 1: $1721.0 - High Apr 17

*PRICE: $1690.0 @ 07:16 BST Apr 21

*SUP 1: $1661.6 - 20-day EMA

*SUP 2: $1658.2 - 50.0% retracement of the Apr 1 - 14 rally

*SUP 3: $1640.9 - Low Apr 8 and key near-term support

*SUP 4: $1637.2 - 61.8% retracement of the Apr 1 - 14 rally

Despite yesterday's gains Gold maintains a weaker tone for now following last

week's pullback off $1747.4, Apr 14 high. The move lower is likely a correction

but is likely to extend near-term, retracing the recent strong gains between Mar

16 - Apr 14. Attention is on $1658.2, 50% of the rally between Apr 1 -14. This

level is also close to the 20-day EMA. A break would expose a deeper pullback

towards $1640.9, the Apr 8 low. Initial resistance is at $1721.