Bears Need Close Below 200-WMA * The.....>

GOLD TECHS: Bears Need Close Below 200-WMA

* The topside failure ahead of the 21-DMA left the pair looking offered and

bears have not been disappointed with gold now flirting with the LT rising TL

off 2015 lows ($1242.5) and the 200-WMA. 

* Bears look for a close below the 200-WMA to confirm breaks of key supports and

initially target $1204.5. 

* Daily studies are well placed for a fresh leg lower. 

* Bulls now need a close above $1260.2 to ease bearish pressure and to return

initial focus to $1271.5-1272.6 where the 100-WMA is noted and above $1272.6 now

to initially target $1283.4-1292.1 where the bear channel top off Apr highs and

the 55-DMA ($1283.4) are situated.