Correction Ensues After Falter Ahead.....>

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

*RES 4: $1296.1 Jun 6 high

*RES 3: $1292.3 Aug 11 high

*RES 2: $1285.7 Hourly recovery high Aug 11

*RES 1: $1278.7 Hourly resistance

*PRICE: $1272.3 @1618GMT

*SUP 1: $1267.2 61.8% Fibo of $1251.7-$1292.3

*SUP 2: $1265.1 6 week rising support line

*SUP 3: $1261.3 76.4% Fibo of $1251.7-$1292.3

*SUP 4: $1251.7 Aug 8 low

*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 has now left the 50% retrace level at $1272.0 in its wake leaving

$1267.2 as the next protection against a greater fall. Not until/unless we lose

the $1265.1-$1261.3 area however, does the overall bias once again swing back to

the downside. Meanwhile, resistance falls to $1278.7-$1285.7.