Bears Focused On Channel Base &..........>

GOLD TECHS: Bears Focused On Channel Base & 200-DMA

*RES 4: $1296.4 - High Sept 27 

*RES 3: $1291.9 - 55-DMA 

*RES 2: $1290.3 - High Sept 29 

*RES 1: $1282.3 - High Oct 4

*PRICE: $1268.5 @ 0248GMT

*SUP 1: $1265.3 - High Aug 8 now support 

*SUP 2: $1252.4 - 200-DMA 

*SUP 3: $1249.9 - Monthly Low Aug 8 

*SUP 4: $1243.8 - Low July 26

*COMMENTARY: Bears took comfort in the rejection on the break above $1281.2 with

immediate focus on $1265.3. Bears look for a close below $1265.3 to confirm a

break of the 100-DMA ($1272.7) and shift focus to $1240.3-1252.4 where the bull

channel base and 200-DMA are situated. Bulls need a close above $1282.3 to gain

breathing room and above the 21-DMA ($1299.3) to shift initial focus back to

$1313.6-1320.0.