GOLD TECHS: Bull Rally Extends

• RES 4: $1923.2 - 76.4% retracement of the Feb 2 - 28 sell-off
• RES 3: $1918.6 - High Feb 3
• RES 2: $1900.6 - 61.8% retracement of the Feb 2 - 28 sell-off
• RES 1: $1889.4 - Intraday high
• PRICE: $1881.1 @ 06:10 GMT Mar 13
• SUP 1: $1844.3 - 50-day EMA
• SUP 2: $1804.9 - Low Feb 28 and the bear trigger
• SUP 3: $1798.0 - 2.0% 10-dma envelope
• SUP 4: $1787.3 - 50.0% retracement of the Sep 28 - Feb 2 bull leg

Gold reversed sharply higher last week and the yellow metal has traded higher today. Resistance at $1858.3, the Mar 6 high has been cleared. This signals scope for an extension towards $1900.6, a Fibonacci retracement point and a key near-term resistance. On the downside, initial firm support is seen at $1844.3, the 50-day EMA. A break of this level is required to instead signal a top - this would expose the bear trigger at $1804.9. Feb 28 low.