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Pullback Considered Corrective


Corrective Cycle


Corrective Bounce


Short-Term Trend Needle Points South

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Bears Need Close Below 21-DMA *RES 4:....>

GOLD TECHS: Bears Need Close Below 21-DMA
*RES 4: $1306.0 - High Oct 16 
*RES 3: $1299.1 - High Nov 27 
*RES 2: $1293.6 - Hourly support Nov 29 now resistance 
*RES 1: $1288.4 - Hourly resistance Nov 29
*PRICE: $1284.4 @ 2030GMT
*SUP 1: $1282.3 - 21-DMA 
*SUP 2: $1279.0 - Low Nov 22 
*SUP 3: $1274.9 - Low Nov 20 
*SUP 4: $1269.9 - Low Nov 14
*COMMENTARY: Pressure has returned to the 21-DMA with bears needing a close
below to confirm an easing of bullish pressure and shift focus back to
$1260.2-1266.5 where the bull channel base and 200-DMA are situated. Bulls now
need a close above $1288.4 to ease pressure on the 21-DMA and above $1299.1 to
reconfirm focus on $1306.0-1320.0. Above $1320.0 targets $1357.5 2017 highs.

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