Bearish Break *RES 4: $1535.8 - High.....>

GOLD TECHS: Bearish Break

*RES 4: $1535.8 - High Sep 24

*RES 3: $1519.8 - High Oct 3 and key near-term resistance

*RES 2: $1494.4 - High Nov 6

*RES 1: $1473.9 - Low Oct 11 and former range base

*PRICE: $1463.8 @ 07:15 GMT Nov 11

*SUP 1: $1444.0 - Intraday low

*SUP 2: $1459.0 - Low Oct 1 and bear trigger

*SUP 3: $1445.8 - 38.3% retracement of Apr 24 - Sep 4 rally

*SUP 4: $1436.8 - Low Aug 5

Despite recovering off the overnight low, Gold is likely to remain bearish

near-term. The yellow metal has breached its range base at $1473.9, Oct 11 low

and more importantly cleared former key support at $1459.00, Oct 1 low. The

break represents an important technical breach as it confirms a resumption of

the downtrend that has been in place since prices peaked at $1557.3 on Sep 3.

This opens $1436.8 next. Resistance is now seen at $1473.9.