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GOLD TECHS: Upside Momentum Fades
*RES 4: $1324.6 - High Mar 25
*RES 3: $1310.7 - High Apr 10
*RES 2: $1299.0 - Downtrend resistance from Feb highs
*RES 1: $1288.8 - High Apr 26
*PRICE: $1280.1 @ 06:17 GMT May 1
*SUP 1: $1266.3 - Low Apr 23
*SUP 2: $1252.9/1249.6 - 200-dma/High Dec 10
*SUP 3: $1243.5 - High Oct 26
*SUP 4: $1231.6/1233.0 - 61.8% retracement/Low Dec 14
Gold has edged back from Friday's highs giving bears an opportunity to reignite
downside momentum and target the April 23 low at $1266.3. A break opens the
200-dma/Dec 10 high at $1252.9/1249.6 ahead of the Oct 26 high. Bulls need to
take out $1288.8 to target down trendline resistance at $1299.0. A close above
here would open the April 10 at $1310.7.