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Still Falling As 8 Week Bull Channel.....>

GOLD TECHS
GOLD TECHS: Still Falling As 8 Week Bull Channel Base Gives Way
*RES 4: $1365.4/66.2 Apr 11, Jan 25 highs
*RES 3: $1355.8 Apr 18 high
*RES 2: $1350.6 Apr 9 high
*RES 1: $1345.1 Hourly resistance
*PRICE: $1328.6 @0928GMT
*SUP 1: $1326.7 61.8% Fibo of $1302.8-$1365.4
*SUP 2: $1319.7 Apr 6 low
*SUP 3: $1317.6 76.4% Fibo of $1302.8-$1365.4
*SUP 4: $1307.3 Mar 20 low
*COMMENTARY* Today threatening a break below the 8 week bull channel following
the failure to reclaim levels back above the year's $1366.2 high earlier in the
month. Now looking at the 61.8% Fibo retrace level at $1326.7 as the protection
against a further $1319.7-$1317.6 fall. The latter keeping us away from a move
back towards the year's $1302.2 low. In the meantime, $1345.1 provides initial
resistance.

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