Correction Continues, $1263.2 The Next...>

GOLD TECHS: Correction Continues, $1263.2 The Next Fibo Retrace Level

*RES 4: $1304.7 Sep 18 low, now resistance

*RES 3: $1295.5 4 week falling resistance line

*RES 2: $1290.5 Sep 29 high

*RES 1: $1285.3 Hourly resistance

*PRICE: $1270.5 @0741GMT

*SUP 1: $1267.4 Aug 15 low

*SUP 2: $1263.2 61.8% Fibo of $1204.8-$1357.7

*SUP 3: $1240.9 76.4% Fibo of $1204.8-$1357.7

*SUP 4: $1237.7 2017 bull channel base

*COMMENTARY* Support from the Aug 25 low at $1274.7 yielded on Monday. Below

here and the minor $1267.4 level protects against a fall to the next Fibo

retrace level at $1263.2, this as we continue to move back down the 2017 bull

channel. As a result, nearest resistance of note currently comes from $1285.3

but back above the 4 week falling resistance line, at $1295.5 by time today, is

likely needed before any real recovery can begin.