Correcting Higher *RES 4: $1519.7 -......>

GOLD TECHS: Correcting Higher

*RES 4: $1519.7 - High Oct 3 and key resistance

*RES 3: $1503.5 - Channel top drawn off Sep 4 high

*RES 2: $1492.2 - High Nov 7

*RES 1: $1480.9 - 50% retracement of the Nov 1 - Nov 12 decline

*PRICE: $1475.3 @ 07:41 GMT Nov 20

*SUP 1: $1456.4 - Low Nov 18

*SUP 2: $1445.7 - Low Nov 12 and bear trigger

*SUP 3: $1436.8 - Low Aug 5

*SUP 4: $1424.0 - Projected channel base drawn off Sep 4 high

Despite the recent recovery, Gold retains a bearish outlook. The recent break of

key support at $1474.1, Oct 11 low and $1459.1, Oct 1 low maintains a bearish

theme. Furthermore, the break of the latter level marked an important technical

breach as it confirms a resumption of the downtrend that has been in place since

prices peaked at $1557.1 on Sep 3. The bear trigger is $1445.7, Nov 12 low.

Resistance is at $1492.2, Nov 7 high.