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Appears Vulnerable *RES 4: $1510.0 -.....>

GOLD TECHS
GOLD TECHS: Appears Vulnerable
*RES 4: $1510.0 - High Nov 5
*RES 3: $1494.3 - High Nov 6
*RES 2: $1488.8 - Channel top drawn off Sep 4 high
*RES 1: $1484.1 - High Dec 4
*PRICE: $1463.7 @ 07:13 GMT Dec 11
*SUP 1: $1450.1 - Low Nov 26
*SUP 2: $1445.7 - Low Nov 12 and bear trigger
*SUP 3: $1436.8 - Low Aug 5
*SUP 4: $1410.4 - Projected channel base drawn off Sep 4 high
Gold is consolidating but appears vulnerable having stalled last week at
Wednesday's $1484.1 high. The pullback signals a resumption of the downtrend.
Note the bear channel resistance drawn off the Sep 4 high at $1488.8 remains
intact. A break of the channel resistance is required to signal a stronger
bullish theme and a potential reversal. For now the focus is on the downside, a
breach of $1450.1 would expose the bear trigger at $1445.7.

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