Focus Is On Range Base *RES 4: $1572.2...>

GOLD TECHS: Focus Is On Range Base

*RES 4: $1572.2 - 1.618 projection of Oct 1 - Oct 3 rally from Oct 11 low

*RES 3: $1557.3 - Trend high Sep 4

*RES 2: $1535.8 - High Sep 24

*RES 1:$1519.8 - High Oct 3 and key near-term resistance

*PRICE: $1485.5 @ 06:28 GMT Nov 6

*SUP 1: $1479.2 - Low Oct 30

*SUP 2: $1473.9 - Low Oct 11 and range base

*SUP 3: $1459.0 - Low Oct 1 and bear trigger

*SUP 4: $1436.8 - Low Aug 5

Gold was under pressure yesterday selling off on the back of USD strength. The

yellow metal however still remains within its recently defined range between

$1519.8, Oct 3 high and $1473.8, Oct 11 low. A breach of the range base would

trigger a stronger slide and open the key support at $1459.0, Oct 1 low. A move

through this support would confirm a resumption of the downtrend. On the upside,

bulls need to see a break of $1519.8 to get excited.