Downside Focus Intact *RES 4: $1497.8....>

GOLD TECHS: Downside Focus Intact

*RES 4: $1497.8 - Channel top drawn off Sep 4 high

*RES 3: $1492.2 - High Nov 7

*RES 2: $1478.9/80.9 - High Nov 20 / 50% of Nov 1 - Nov 12 decline

*RES 1: $1473.3 - High Nov 22

*PRICE: $1458.7 @ 06:37 GMT Nov 27

*SUP 1: $1451.7 - Low Nov 26

*SUP 2: $1445.7 - Low Nov 12 and bear trigger

*SUP 3: $1436.8 - Low Aug 5

*SUP 4: $1418.6 - Projected channel base drawn off Sep 4 high

Gold started the week on a softer note having recently pulled back from last

weeks $1478.9 high but did find some support yesterday. The outlook is bearish

following this months break of key support at $1474.1, Oct 11 low and $1459.1,

Oct 1 low. The break of the latter level confirmed a resumption of the decline

that has been in place since prices peaked at $1557.1 on Sep 3. Attention is on

$1445.7, Nov 12 low and the bear trigger. Resistance is at $1478.9.