Bears Focused On 2017 Low *RES 4:........>

GOLD TECHS: Bears Focused On 2017 Low

*RES 4: $1269.9 - Low Nov 14 now resistance 

*RES 3: $1260.1 - Monthly Low Oct 6 now resistance 

*RES 2: $1252.4 - High Dec 8 

*RES 1: $1243.4 - Low July 26

*PRICE: $1241.3 @ 2030GMT

*SUP 1: $1227.8 - Low July 17 

*SUP 2: $1214.0 - Low July 12 

*SUP 3: $1210.5 - Daily Bear channel base (Oct 6 Low) 

*SUP 4: $1204.7 - Monthly Low July 10

*COMMENTARY: Pressure on $1243.4 has taken its toll with a likely close below

shifting initial focus to $1180.6-1210.5 where the bear channel base and monthly

lows are situated. O/S studies and Bollinger base ($1246.0) are key concerns for

bears. Bulls now look for a close above $1252.4 to ease immediate bearish

pressure and above $1269.9 to shift focus back to $1276.4-1287.2 where DMAs and

bear channel top are noted.