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Under Pressure *RES 4: $1754.5 - High....>

GOLD TECHS
GOLD TECHS: Under Pressure
*RES 4: $1754.5 - High Nov 22, 2012
*RES 3: $1747.4 - High Apr 15 and bull trigger
*RES 2: $1739.3 - High Apr 23
*RES 1: $1714.5 - Intraday high
*PRICE: $1694.2 @ 06:40 BST Apr 28
*SUP 1: $1683.1 - 20-day EMA
*SUP 2: $1680.5 - Low Apr 22
*SUP 3: $1659.6 - Low Apr 21 and key support
*SUP 4: $1658.2 - 50.0% retracement of the Apr 1 - 14 rally
Gold is under pressure this morning trading below $1700.0. The pullback follows
a recent inability to tackle key resistance at $1747.4, Apr 14 high. Current
weakness has exposed a support area at $1683.1, the 20-day EMA. A break would
suggest potential for a deeper pullback towards key S/T support at $1659.6, Apr
21 low. Clearance of this level would confirm a top and a reversal. Initial
resistance is $1714.5, a break is needed to ease the current sell-off.

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