Uptrend Appears To Have Resumed *RES.....>

GOLD TECHS: Uptrend Appears To Have Resumed

*RES 4: $1700.0 - Round number resistance

*RES 3: $1689.3 - High Feb 24 and key resistance

*RES 2: $1664.0 - High Feb 25

*RES 1: $1652.7 - Intraday high

*PRICE: $1637.5 @ 07:04 GMT Mar 4

*SUP 1: $1586.7 - Low Mar 3

*SUP 1: $1563.1 - Low Feb 28

*SUP 3: $1547.6 - Low Feb 5

*SUP 4: $1536.0 - Low Jan 14

Gold rallied yesterday. The metal recently retraced to a key area of support at

$1570.75, the 50-day EMA. This is an average used to assess the direction of a

trend, with a positive slope it suggests the underlying direction remains up.

The sharp rally off the average suggests the bull trend is resuming and

attention turns to the Feb 24 high of $1689.3. This is the bull trigger where a

break would confirm a resumption of the rally. Key support lies at $1563.1.