Watching trendline support *RES 4:.......>

GOLD TECHS: Watching trendline support

*RES 4: $1587.0 - 61.8% retracement of the 2011 to 2015 decline

*RES 3: $1557.3 - High Sep 4 and key resistance

*RES 2: $1528.3 - High Sep 6

*RES 1: $1524.3 - High Sep 12

*PRICE: $1505.4 @ 07:30 BST Sep 16

*SUP 1: $1479.7 - Low Aug 13

*SUP 2: $1484.6 - Low Sep 10 and just below t-line support drawn off May 30 low

*SUP 3: $1471.4 - Low Aug 7

*SUP 4: $1453.1 - High Jul 19

Gold is trading above its t-line support at 1489.8 drawn off the May 30 low. The

yellow metal has also defined a key support at 1484.6, Sep 10 low. Clearance of

this area would represent a significant bearish development. A trendline break

would confirm a reversal of the recent 3-month uptrend and open 1479.7

initially. Resistance is at 1524.3, Thursday's high. If the trendline holds and

impulsive gains above 1524.3 follow, this could see a bullish theme return.