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Focus Returns To The Downside *RES 4:....>

GOLD TECHS
GOLD TECHS: Focus Returns To The Downside
*RES 4: $1326.0 - High May 11 
*RES 3: $1300.0 - Pivot area 
*RES 2: $1271.0 - 200-dma 
*RES 1: $1243.5 - High Oct 26 
*PRICE: $1217.8 @ 06:30 GMT 
*SUP 1: $1214.4 - High Aug 28, now support 
*SUP 2: $1204.9 - 55-dma 
*SUP 3: $1180.9 - Sep 28 
*SUP 4: $1160.4 - Low Aug 16 
Gold broke below its Oct 22 low yesterday which puts the focus back to the
downside and on the 55-dma, coming in at $1204.9. A break below here would
suggest a resumption of the bearish trend, opening up the Sep 28 low ahead of a
potential run at the ytd lows seen on Aug 16. Bulls need to break above Friday's
high at $1243.5 to reignite upside momentum and target the 200-dma and the $1300
pivot area.

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