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Downside Focus *RES 4: $1499.5 -.........>

GOLD TECHS
GOLD TECHS: Downside Focus
*RES 4: $1499.5 - 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: $1456.9 @ 06:30 GMT Nov 26
*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: $1420.1 - 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. 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 has been defined at $1478.9.

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