Bears Need Close Below $1302.5 *RES 4:...>

GOLD TECHS: Bears Need Close Below $1302.5

*RES 4: $1367.3 - Monthly High Aug 2 2016 

*RES 3: $1357.5 - 2017 High Sept 8 

*RES 2: $1334.8 - High Sept 13 

*RES 1: $1321.3 - Hourly resistance Jan 3

*PRICE: $1316.8 @ 0250GMT

*SUP 1: $1310.0 - Hourly support Jan 2 

*SUP 2: $1302.5 - Low Jan 2 

*SUP 3: $1293.5 - Low Dec 29 

*SUP 4: $1281.5 - Low Dec 27

*COMMENTARY: The recovery from Dec lows has resulted in closes above the 55-DMA

and bear channel top and a pop above $1320.0 in Asia today. O/B daily studies

and the Bollinger top ($1314.4) are concerns for bulls. Bears now need a close

below Tuesday's low to ease pressure on resistance layers and below the 100-DMA

($1287.7) to hint at a deeper correction. Bulls potentially target 2017 highs

while $1302.5 supports.