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GOLD TECHS: $1278.9 Break Allows Further Upside Corrective Potential
*RES 4: $1296.1 76.4% Fibo of $1306.1-$1263.8
*RES 3: $1291.5 Oct 18 high
*RES 2: $1286.1 Oct 23 high
*RES 1: $1282.6 Oct 26 high
*PRICE: $1279.0 @1039GMT
*SUP 1: $1274.1 Hourly support
*SUP 2: $1267.7 Oct 31 low
*SUP 3: $1263.8 Aug 8 low
*SUP 4: $1260.7 Oct 9 low
*COMMENTARY* The $1271.4 support level gave way last week, resulting in a low of
$1263.8 on Friday, just ahead of the next key level, the Oct 9 low at $1260.7.
As a result, has become oversold on a near term basis and with the move back
above $1278.9, is now looking to correct further, the losses sustained since the
Oct 16 high at $1306.1. This now sees $1282.6 as the next bar to a continued
$1286.1-$1296.1 rise. Support rises to $1274.1-$1267.7.