Focus Is On $1483.0 Bear Trigger *RES....>

GOLD TECHS: Focus Is On $1483.0 Bear Trigger

*RES 4: $1590.5 - High week ending Apr 12, 2013

*RES 3: $1557.3 - High Sep 4 and key resistance

*RES 2: $1535.8 - High Sep 24

*RES 1: $1512.6 - High Sep 26

*PRICE: $1488.7 @ 07:36 BST Sep 30

*SUP 1: $1486.7 - Low Sep 27

*SUP 2: $1483.0 - Low Sep 18 and key bear trigger

*SUP 3: $1479.7 - Low Aug 13

*SUP 4: $1471.4 - Low Aug 7

Gold remains vulnerable following the sell-off on Sep 25. The price pattern from

Wednesday in candle terms is a bearish engulfing. The implications are that the

recent recovery was a correction and importantly that the correction is over. If

correct, the yellow metal is seen testing the key support at $1483.0. A break

would confirm a reversal. The high of $1535.8, Sep 24 has been defined as a key

resistance. A move above here is needed to reinstate a bullish outlook.