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Gains Are Likely Corrective *RES 4:......>

GOLD TECHS
GOLD TECHS: Gains Are Likely Corrective
*RES 4: $1519.8 - High Oct 3 and key near-term resistance
*RES 3: $1510.4 - Channel top drawn off Sep 4 high
*RES 2: $1494.4 - High Nov 6
*RES 1: $1473.9 - Low Oct 11 and former range base
*PRICE: $1466.2 @ 06:43 GMT Nov 14
*SUP 1: $1445.7/8 - Low Nov 12 / 38.2% of Apr 24 - Sep 4 rally
*SUP 2: $1436.8 - Low Aug 5
*SUP 3: $1429.6 - Projected channel base drawn off Sep 4 high
*SUP 4: $1411.4 - 50.0% retracement of Apr 24 - Sep 4 rally
Despite recovering off Tuesday's low, Gold retains a bearish focus. The yellow
metal last week breached its range base at $1473.9, Oct 11 low and cleared
former key support at $1459.00, Oct 1 low to maintain a bearish theme. The break
represents an important technical breach as it confirms a resumption of the
downtrend that has been in place since prices peaked at $1557.3 on Sep 3. The
resistance levels to watch today are $1473.9 and $1494.4.

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