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Marginal New Low *RES 4: $1324.6 -.......>

GOLD TECHS
GOLD TECHS: Marginal New Low
*RES 4: $1324.6 - High Mar 25 
*RES 3: $1310.7 - High Apr 10 
*RES 2: $1296.0 - Downtrend resistance from Feb highs 
*RES 1: $1288.8 - High Apr 26 
*PRICE: $1272.0 @ 06:06 GMT May 3 
*SUP 1: $1266.3 - Low Apr 23 
*SUP 2: $1253.2/1249.6 - 200-dma/High Dec 10 
*SUP 3: $1243.4 - High Oct 26 
*SUP 4: $1231.6/1233.0 - 61.8% retracement/Low Dec 14 
Gold posted fresh ytd lows yesterday as prices dipped marginally below the April
23 lows before recovering some of their losses. The outlook remains negative as
bears look for a break below yesterday's low to open the 200-dma/Dec 10 high at
$1253.2/1249.6 ahead of the Oct 26 high. On the upside bulls need to take out
the April 26 at $1288.8 to target down trendline resistance at $1296.0. A close
above here would shift the outlook bullish opening the April 10 high at $1310.7.

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