Correction Drawing To A Close? *RES 4:...>

GOLD TECHS: Correction Drawing To A Close?

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

*RES 3: $1502.5 - 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: $1470.2 @ 07:41 GMT Nov 21

*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: $1423.0 - Projected channel base drawn off Sep 4 high

Despite the recent recovery, Gold retains a bearish outlook and signs are that

the correction has run its course. 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 confirmed a resumption of the downtrend that has been

in place since prices peaked at $1557.1 on Sep 3. Attention is on the bear

trigger at $1445.7, Nov 12 low. Resistance is at $1492.2, Nov 7 high.