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Channel Resistance Remains Intact *RES...>

GOLD TECHS
GOLD TECHS: Channel Resistance Remains Intact
*RES 4: $1518.0 - High Oct 25
*RES 3: $1510.0 - High Nov 5
*RES 2: $1494.3 - High Nov 6
*RES 1: $1486.8/9 - High Dec 13 / Channel top drawn off Sep 4 high
*PRICE: $1466.9 @ 07:31 GMT Dec 13
*SUP 1: $1458.8 - Low Dec 6 and 9
*SUP 2: $1450.1 - Low Nov 26
*SUP 3: $1445.7 - Low Nov 12 and bear trigger
*SUP 4: $1436.8 - Low Aug 5
Gold was firmer yesterday but stalled at the day high selling off to close near
session lows. Note, bear channel resistance drawn off the Sep 4 high at $1486.9
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 $1458.8, low Dec 6 and 9 would open
$1450.1, low Nov 26 ahead of the bear trigger at $1445.7, low Nov 12.

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