Decline Approaching Assignation With.....>

GOLD TECHS: Decline Approaching Assignation With Last December's Low

*RES 4: $1272.7 May 21 low, now resistance

*RES 3: $1264.5 Congestion area Jun 21-26 

*RES 2: $1261.2 Jun 21 low

*RES 1: $1255.8 Jun 29 high

*PRICE: $1245.1 @0913GMT

*SUP 1: $1236.6 Dec 12 low

*SUP 2: $1226.2 Equality fall from $1309.4 to $1365.4-$1282.2

*SUP 3: $1224.5 Equality fall from $1272.7 to $1309.4-$1261.2

*SUP 4: $1215.7 61.8% Fibo of $1122.6-$1380

*COMMENTARY* Lost support from the key $1286.6-$1286.1 area toward the end of

May. This the rising support line at the time, from the December 2016 lows and

the 61.8% Fibo retrace level of this year's $1236.6-$1366.2 rise. Below and with

the $1267.2-$1262.3 supports now exceeded, the base of the 3 month bear channel

base has been exposed, leaving the Dec 12 low at $1236.6 as next support on the

agenda. Any lower and look to two equality fall targets between $1226.2-$1224.5.