Stalls At Yesterday's High *RES 4:.......>

GOLD TECHS: Stalls At Yesterday's High

*RES 4: $1600.0 - Round number resistance

*RES 3: $1582.6 - 61.8% retracement of the Jan 8 - Jan 14 decline

*RES 2: $1573.7 - 50.0% retracement of the Jan 8 - Jan 14 decline

*RES 1: $1568.7 - High Jan 21

*PRICE: $1551.7 @ 06:23 GMT Jan 22

*SUP 1: $1546.0 - Low Jan15

*SUP 2: $1536.0 - Low Jan 14 and bear trigger

*SUP 3: $1528.6 - 50% retracement of the Nov 12 - Jan 8 rally

*SUP 4: $1517.3 - Low Jan 2

Gold failed to hold onto yesterday's high of $1568.7. This has left two

important resistance levels untouched and in place. $1573.7 and 1582.6 mark the

50% and 61.8% retracements of the Jan 8 - Jan 14 sell-off. While they remain in

place (the 61.8% level being the more important), recent gains are most likely

corrective and the outlook remains bearish. Attention is on support at $1546.0

Jan 15 low. A break would expose the key bear trigger at $1536.0.