Reversal patterns still in play *RES.....>

GOLD TECHS: Reversal patterns still in play

*RES 4: $1600.0 - Psychological round number

*RES 3: $1587.0 - 61.8% retracement of the 2011 to 2015 decline

*RES 2: $1557.3 - High Sep 4

*RES 1: $1528.3 - High Sep 6

*PRICE: $1509.3 @ 07:10 BST Sep 9

*SUP 1: $1502.6 - Low Sep 6

*SUP 2: $1492.4 - Low Aug 22

*SUP 3: $1479.7 - Low Aug 13

*SUP 4: $1475.8 - Trendline support drawn off the May 30 low

Gold starts the week on a softer note following the reversal last week off

1557.3, Sep 4 high. A bearish engulfing candle was confirmed Thurs and

significantly, a double top formation. This highlights a shift in sentiment. The

break of 1517.0 confirmed the double top and attention turns to trendline

support at 1475.8, off the May 30 low. For now, the risk short-term is that the

yellow metal trades heavy, unless it can recoup recent highs and clear 1557.3.