Bullish Theme Remains Intact

• RES 4: $1818.1 - 50.0% retracement of the Jan 6 - Mar 8 sell-off
• RES 3: $1816.0 - High Feb 23
• RES 2: $1805.7 - High Feb 25
• RES 1: $1790.1 - High Apr 19
• PRICE: $1769.6 @ 07:19 BST Apr 20
• SUP 1: $1758.5 - 50-day EMA
• SUP 2: $1721.4 - Low Apr 5 and key near-term support
• SUP 3: $1705.9 - Low Apr 1
• SUP 4: $1676.9 - Low Mar 8 and the bear trigger

Gold maintains a bullish tone following last week's gains. The yellow metal cleared resistance at $1758.8, Apr 8 high and is trading above the 50-day EMA. Furthermore, the break higher last week confirmed a double bottom reversal pattern that had formed since the Mar 8 low. Attention is on $1805.7, Feb 25 high. On the downside, key short-term support has been defined at $1721.4, Apr 5 low. A break would be bearish.