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Sharp Slide *RES 4: $1600.0 - Round......>

GOLD TECHS
GOLD TECHS: Sharp Slide
*RES 4: $1600.0 - Round number resistance
*RES 3: $1593.6 - 76.4% retracement of the Jan 8 - Jan 14 decline
*RES 2: $1592.1 - High Feb 3
*RES 1: $1579.7 - High Feb 4
*PRICE: $1559.6 @ 06:44 GMT Feb 5
*SUP 1: $1549.1 - Low Feb 4
*SUP 2: $1546.0 - Low Jan15
*SUP 3: $1536.0 - Low Jan 14 and bear trigger
*SUP 4: $1533.5 - 50-day EMA
A sharp slide in Gold yesterday resulted in a break of support at $1563.5 to
highlight a bearish theme. This also follows a recent failure to convincingly
clear resistance at $1588.7, the Jan 27 high. Further weakness would open
$1546.4, Jan 21 low ahead of $1536.0, the Jan 14 low and a key support. A break
above Monday's high of $1592.1 is required to reinstate a bullish outlook once
again.

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