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GOLD TECHS: Correcting Lower As Rally Falters Below 9 Month Channel Top
*RES 4: $1334.5 Sep 14 high
*RES 3: $1322.7 Sep 12 low, now resistance
*RES 2: $1316.2 Sep 20 high
*RES 1: $1304.7 Sep 18 low, now resistance
*PRICE: $1292.6 @1535GMT
*SUP 1: $1288.1 Hourly support
*SUP 2: $1281.2 50% Fibo of $1204.8-$1357.7
*SUP 3: $1274.7 Aug 25 low
*SUP 4: $1267.4 Aug 15 low
*COMMENTARY* The pullback from the month's $1357.7 high has now reached down
below $1311.6, a 76.4% Fibo retrace of the most recent gains from the Aug 31 low
at $1297.3 and has also broken beneath the 2 month rising support line, at
$1313.8 by time today. Now support from the Aug 31 low at $1297.3 has gone,
below which will now allow a deeper $1281.2-$1274.7 fall next. Meanwhile,
resistance from $1304.7 and then yesterday's $1316.2 high, prohibits recoveries.