Decline Finding Some Support From The....>

GOLD TECHS: Decline Finding Some Support From The 3 Month Bear Channel 

*RES 4: $1282.2 May 21 low, now resistance

*RES 3: $1276.6 Jun 20 high

*RES 2: $1272.7 Jun 22 high

*RES 1: $1261.2 Jun 21 low, now resistance

*PRICE: $1248.6 @0856GMT

*SUP 1: $1245.7 3 month bear channel base projection

*SUP 2: $1236.6 Dec 12 low

*SUP 3: $1226.2 Equality fall from $1309.4 to $1365.4-$1282.2

*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 risk is for a test to the 3 month

bear channel base at $1245.7. Resistance $1261.2-$1272.7 keeps focus lower. The

Dec 12 low at $1236.6 is next on the agenda below $1245.7.