Pullback Considered Corrective *RES 4:...>

GOLD TECHS: Pullback Considered Corrective

*RES 4: $1758.6 - 1.382 projection of Feb 5 - Feb 25 rally from Feb 28 low

*RES 3: $1738.3 - 1.236 projection of Feb 5 - Feb 25 rally from Feb 28 low

*RES 2: $1704.8 - 1.00 projection of Feb 5 - Feb 25 rally from Feb 28 low

*RES 1: $1703.4 - High Mar 9

*PRICE: $1663.9 @ 07:06 GMT Mar 10

*SUP 1: $1649.5 - Intraday low

*SUP 1: $1632.0 - Low Mar 4

*SUP 3: $1587.3 - 50-day EMA

*SUP 4: $1563.1 - Low Feb 28 and key support

Gold traded to a high of $1703.4 yesterday. Price is off the high this morning

however, the pullback is likely corrective. The metal recently pulled back to a

key area of support at the 50-day EMA, an average used to assess trend

direction. With a positive slope, it suggests the direction is up. The sharp

rally off the average confirmed a resumption of the bull trend that began off

the Nov lows. The focus is on $1704.8 and $1738.3 next. $1649.5 is support.