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Gold is facing some bearish pressure.....>

GOLD TECHS
GOLD TECHS: Gold is facing some bearish pressure this morning. Last weeks
recovery is seen as a corrective bounce with the underlying bearish trend still
intact. The recent breach of support at $1474.1, Oct 11 low and $1459.1, Oct 1
confirmed the next stage of the move lower that has been in place since Sep 4.
Support that is relevant today is $1445.7, Nov 12 low. A break would confirm a
resumption of the trend and open $1411.7, 50% retracement of the rally between
May and September. First resistance is $1474.7, Thursday's high. Set to remain
heavy.

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