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Bears Need Close Below $1249.2 *RES 4:...>

GOLD TECHS
GOLD TECHS: Bears Need Close Below $1249.2
*RES 4: $1284.1 - Daily Bear channel top 
*RES 3: $1277.9 - Hourly resistance Dec 1 
*RES 2: $1269.9 - Low Nov 14 now resistance 
*RES 1: $1261.8 - High Dec 15
*PRICE: $1254.6 @ 0430GMT
*SUP 1: $1249.2 - Hourly breakout level Dec 13 
*SUP 2: $1240.2 - Low Dec 13 
*SUP 3: $1235.9 - Low Dec 12 
*SUP 4: $1227.8 - Low July 17
*COMMENTARY: Bears failed to capitalise further on recent fresh 6mth lows with
the bounce easing immediate bearish pressure. Correcting O/S daily studies add
support to the case for a move back to layers of resistance $1269.9-1289.5 where
DMAs and bear channel top are noted. The $1235.9-1249.2 support is key. Bears
need a close below $1249.2 to gain breathing room and below $1235.9 to target
$1204.6-1214.0.

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