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Bears Need Close Below $1289.1 *RES 4:...>

GOLD TECHS
GOLD TECHS: Bears Need Close Below $1289.1
*RES 4: $1320.0 - High Sept 18 
*RES 3: $1313.6 - High Sept 26 
*RES 2: $1306.0 - High Oct 16 
*RES 1: $1297.0 - Hourly Nov 17
*PRICE: $1291.8 @ 0430GMT
*SUP 1: $1289.1 - High Nov 15 now support 
*SUP 2: $1281.9 - Hourly support Nov 17 
*SUP 3: $1275.0 - Low Nov 16 
*SUP 4: $1269.9 - Low Nov 14
*COMMENTARY: Having found support ahead of the 200-DMA ($1264.7) in recent weeks
bulls take comfort in Friday's close above the 55-DMA ($1291.7) with focus now
having shifted to layers of resistance $1306.0-1320.0. Initial support is noted
at $1289.1 with bears needing a close below to ease bullish pressure and hint at
a correction back to $1257.6-1264.9 where the bull channel base and 200-DMA are
noted.

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