Focus Remains On The Downside *RES 4:....>

GOLD TECHS: Focus Remains On The Downside

*RES 4: $1494.3 - 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: $1466.6 - High Nov 22

*PRICE: $1462.0 @ 07:13 GMT Dec 3

*SUP 1: $1450.1 - Low Nov 26

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

*SUP 3: $1436.8 - Low Aug 5

*SUP 4: $1415.0 - Projected channel base drawn off Sep 4 high

Gold is consolidating. A bearish outlook still remains intact following the

recent rejection off $1478.9, Nov 22 high. This is in line with the broader

bearish theme following last months break of $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. $1478.9 is resistance.