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Off Yesterday's Low *RES 4: $1708.7 -....>

GOLD TECHS
GOLD TECHS: Off Yesterday's Low
*RES 4: $1708.7 - 1.382 of Aug 2018 low to Sep 2019 high
*RES 3: $1696.2 - High Jan 22, 2013
*RES 2: $1689.3 - High Feb 24 and key resistance
*RES 1: $1664.0 - High Feb 25
*PRICE: $1651.0 @ 06:45 GMT Feb 27
*SUP 1: $1625.0 Low Feb 26
*SUP 1: $1611.4 - High Jan 8 and former breakout level
*SUP 3: $1592.1 - High Feb 3 and former resistance
*SUP 4: $1566.2 - 50-day EMA
Gold is firmer following the bounce off yesterday's $1625.0 low. The recent
focus has been on Monday's bearish price pattern, a shooting star reversal. This
suggests the yellow metal has potentially rallied too far recently in price
terms and, is likely to unwind some of its recent gains as part of a correction.
If correct, the risk is for a pullback towards $1611.42 initially, Jan 8 high. A
break of $1689.3, Feb 24 high confirms a resumption of the up-trend.

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