Correction Continues, $1263.2 The Next...>

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

*RES 4: $1290.5 Sep 29 high

*RES 3: $1284.5 4 week falling resistance line

*RES 2: $1279.1 Oct 5 high

*RES 1: $1274.2 Hourly resistance

*PRICE: $1268.8 @0945GMT

*SUP 1: $1263.2 61.8% Fibo of $1204.8-$1357.7

*SUP 2: $1251.7 Aug 8 low

*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 not much in the way to prevent 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 currently comes from $1274.2-$1279.1 but back above

the 4 week falling resistance line, at $1284.5 by time today, is likely needed

before any real recovery can begin.