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Channel Resistance Breached *RES 4:......>

GOLD TECHS
GOLD TECHS: Channel Resistance Breached
*RES 4: $1535.7 - High Sep 24
*RES 3: $1518.0 - High Oct 25 and key resistance
*RES 2: $1510.0 - High Nov 5
*RES 1: $1491.4 - Intraday high
*PRICE: $1490.2 @ 06:46 GMT Dec 24
*SUP 1: $1480.0 - Former channel top drawn off the Sep 14 high
*SUP 2: $1470.5 - Low Dec 18
*SUP 3: $1462.5 - Low Dec 13
*SUP 4: $1458.8 - Low Dec 6 and 9 and key support
Gold continues to move higher. This week has seen the yellow metal trade through
key resistance at $1481.00. This is the top of the bear channel drawn off the
Sep 14 high. The move represents a potentially important break and has been
reinforced by the subsequent break of resistance at 1486.8, Dec 12 high. This
signals a potential reversal and opens the $1500.0 level and $1518.0, Oct 25
high. On the downside initial support lies at $1480.0.

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