Bulls Need Close Above $1296.4 *RES 4:...>

GOLD TECHS: Bulls Need Close Above $1296.4

*RES 4: $1320.0 - High Sept 18 

*RES 3: $1313.6 - High Sept 26 

*RES 2: $1296.4 - High Sept 27 

*RES 1: $1294.5 - 55-DMA

*PRICE: $1293.6 @ 0430GMT

*SUP 1: $1284.5 - Low Oct 11 

*SUP 2: $1277.6 - Hourly resistance Oct 6 now support 

*SUP 3: $1270.7 - Hourly support Oct 6 

*SUP 4: $1266.3 - Hourly resistance Oct 6 now support

*COMMENTARY: Having previously been capped on approach to the 21 & 55-DMAs and

$1296.4 bulls take comfort in pressure returning to this region. Bulls need a

close above $1296.4 to shift initial focus back to $1313.6-1320.0. Initial

support is noted at $1284.5 with bears needing a close below to gain breathing

room and below $1277.6 to return focus to $1242.5-1254.9 where the bull channel

base and 200-DMA are situated.