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Neckline Support Holds, For Now *RES.....>

GOLD TECHS
GOLD TECHS: Neckline Support Holds, For Now
*RES 4: $1346.8 - High Feb 20 
*RES 3: $1324.6 - High Mar 25 
*RES 2: $1312.3 - High Mar 28 
*RES 1: $1310.7/1306.0 - High Apr 10/Downtrend resistance from Feb highs 
*PRICE: $1285.4 @ 05:33 GMT Apr 16 
*SUP 1: $1282.6/1281.0/1280.9 - Low Apr 15/Low Apr 4/Low March 7 
*SUP 2: $1276.8 - Low Jan 21/38.2% retracement 
*SUP 3: $1253.6 - 50% retracement 
*SUP 4: $1250.5 - 200-dma 
Gold continues to trade heavy just above key neckline support. Bears look for a
break below yesterday's low at $1282.6 ahead of the Apr 4 and March 7 lows at
$1281.0/1280.9 to suggest a downside break towards the Jan 21 low /38.2%
retracement at $1281.0/1280.9. Bulls focus remains on downtrend resistance and
the April 10 high at $1306.0/1310.7. Above here would return the focus to the
upside.

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