Fall Tests Base Of Congested Support.....>

GOLD TECHS: Fall Tests Base Of Congested Support Area

*RES 4: $1270.4 Nov 30 low, now resistance

*RES 3: $1265.1 Underside broken 2017 bull channel

*RES 2: $1260.7 Oct 6 low, now resistance

*RES 1: $1252.5 Hourly resistance

*PRICE: $1244.2 @1101GMT

*SUP 1: $1240.2 50% Fibo of $1122.6-$1357.7

*SUP 2: $1232.6 1.618 swing of $1260.7-$1306.1

*SUP 3: $1230.9 1.618x $1306.1-$1263.8 from $1299.3

*SUP 4: $1212.4 61.8% Fibo of $1122.6-$1357.7

*COMMENTARY* Having lost key support from $1262.3 and $1260.7 earlier last week,

the pace of the fall quickened. This now sees congested support from between

$1242.5 and $1240.2, as the next potential target area and a brake against a

deeper $1232.6-$1230.9 decline. Resistance meanwhile, comes initially from

$1252.5, above which a succession of recent lows and the underside of the broken

2017 bull channel, now combine to form an umbrella of resistance above.