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

GOLD TECHS: Likely To Correcting Lower

*RES 4: $1754.5 - High Nov 22, 2012

*RES 3: $1747.4 - High Apr 15 and bull trigger

*RES 2: $1721.0 - High Apr 17

*RES 1: $1702.9 - High Apr 20

*PRICE: $1683.2 @ 06:07 BST Apr 22

*SUP 1: $1659.6 - Low Apr 21

*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

Gold was volatile yesterday trading sharply lower before bouncing off the

$1659.6 day low. A weaker tone is maintained though following last week's

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

appears set to extend, retracing the recent strong rally between Mar 16 - Apr

14. Attention is on $1658.2, 50% of the move between Apr 1 -14. A break would

expose a deeper pullback towards $1640.9, Apr 8 low. Resistance is at $1702.9.