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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: $1296.4 Sep 27 high
*RES 2: $1291.8 4 week falling resistance line
*RES 1: $1285.3 Hourly resistance
*PRICE: $1275.9 @0815GMT
*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 $1291.8 by time today, is
likely needed before any real recovery can begin.

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