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Bearish Focus Intact *RES 4: $1519.8 -...>

GOLD TECHS
GOLD TECHS: Bearish Focus Intact
*RES 4: $1519.8 - High Oct 3 and key near-term resistance
*RES 3: $1512.3 - Channel top drawn off Sep 4 high
*RES 2: $1494.4 - High Nov 6
*RES 1: $1473.9 - Low Oct 11 and former range base
*PRICE: $1462.1 @ 06:54 GMT Nov 13
*SUP 1: $1445.8 - 38.2% retracement of Apr 24 - Sep 4 rally
*SUP 2: $1436.8 - Low Aug 5
*SUP 3: $1430.5 - Projected channel base drawn off Sep 4 high
*SUP 4: $1411.4 - 50.0% retracement of Apr 24 - Sep 4 rally
Despite recovering off yesterday's low, Gold retains a bearish focus. The yellow
metal last week breached its range base at $1473.9, Oct 11 low and 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. Momentum studies are bearish too.
Attention is on $1436.8 next. Resistance is at $1473.9.

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