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

GOLD TECHS
GOLD TECHS: Channel Resistance Intact
*RES 4: $1510.0 - High Nov 5
*RES 3: $1494.3 - High Nov 6
*RES 2: $1487.8 - Channel top drawn off Sep 4 high
*RES 1: $1484.1 - High Dec 4
*PRICE: $1473.7 @ 07:16 GMT Dec 12
*SUP 1: $1450.1 - Low Nov 26
*SUP 2: $1445.7 - Low Nov 12 and bear trigger
*SUP 3: $1436.8 - Low Aug 5
*SUP 4: $1408.4 - Projected channel base drawn off Sep 4 high
Gold was firmer yesterday but remains in a range that has been in place since
mid-November. Note, bear channel resistance drawn off the Sep 4 high at $1487.8
remains intact. A break of the channel resistance is required to signal a
stronger bullish theme as well as a potential reversal. While it holds, the
focus is on the downside, a breach of $1450.1 would expose the bear trigger at
$1445.7.

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