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Neckline Support Gives Way *RES 4:.......>

GOLD TECHS
GOLD TECHS: Neckline Support Gives Way
*RES 4: $1324.6 - High Mar 25 
*RES 3: $1312.3 - High Mar 28 
*RES 2: $1310.7 - High Apr 10
*RES 1: $1303.0 - Downtrend resistance from Feb highs 
*PRICE: $1277.7 @ 06:05 GMT Apr 17 
*SUP 1: $1273.0 - Low Apr 16
*SUP 2: $1253.6 - 50% retracement 
*SUP 3: $1251.1 - High Dec 10
*SUP 4: $1250.7 - 200-dma 
Gold broke cleanly below neckline support yesterday triggering a topping pattern
that shifts the focus firmly to the downside. Below yesterday's low at $1273.0
would bring the 50% retracement of the Aug-Feb rally into play ahead of the Dec
10 high at $1251.1. Bulls need to break above downtrend resistance at $1303.0 to
improve the outlook and open the April 10 high at $1310.7. 

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