Reversal patterns *RES 4: $1617.1 -.....>

GOLD TECHS: Reversal patterns 

*RES 4: $1617.1 - High Apr 2013

*RES 3: $1600.0 - Psychological round number

*RES 2: $1587.0 - 61.8% retracement of the 2011 to 2015 decline

*RES 1: $1557.3 - High Sep 4

*PRICE: $1515.8 @ 07:25 BST Sep 6

*SUP 1: $1506.2 - Low Sep 5

*SUP 2: $1492.4 - Low Aug 22

*SUP 3: $1479.7 - Low Aug 13

*SUP 4: $1473.0 - Trendline support drawn off the May 30 low

Having traded to a fresh trend high of $1557.3 Wednesday, Gold reversed gains

yesterday to highlight a S/T bearish threat.A bearish engulfing candle yesterday

and a double top formation highlights a shift in sentiment. The break of $1517.0

confirmed the double top. Attention now turns to trendline support at $1473.0,

drawn off the May 30 low. Thus the risk short-term now is that the yellow metal

trades heavy, unless it can recoup the recent highs and clear $1557.3.