Correction Ensues After Falter Ahead.....>

GOLD TECHS: Correction Ensues After Falter Ahead Of The Year's High

*RES 4: $1315.7 76.4% Fibo of $1375.4-$1122.6

*RES 3: $1296.1 Jun 6 high

*RES 2: $1292.3 Aug 11 high

*RES 1: $1287.5 Hourly resistance

*PRICE: $1273.9 @0954GMT

*SUP 1: $1272.0 50% Fibo of $1251.7-$1292.3

*SUP 2: $1267.2 61.8% Fibo of $1251.7-$1292.3

*SUP 3: $1262.9 6 week rising support line

*SUP 4: $1261.3 76.4% Fibo of $1251.7-$1292.3

*COMMENTARY* After faltering at $1292.3, ahead of the year's previous $1296.1

high, we have commenced a correction, initially of gains from the Aug 8 low at

$1251.7. This now sees the 50% retrace level at $1272.0 as initial support and

protection against a greater fall. Not until/unless we lose the $1262.9-$1261.3

area however, does the overall bias once again swing back to the downside.

Meanwhile, resistance from $1287.5 can keep a lid on any recovery.