Initial Focus On $1269.9-1289.5 *RES.....>

GOLD TECHS: Initial Focus On $1269.9-1289.5

*RES 4: $1284.9 - Daily Bear channel top 

*RES 3: $1277.9 - Hourly resistance Dec 1 

*RES 2: $1269.9 - Low Nov 14 now resistance 

*RES 1: $1260.1 - Monthly Low Oct 6 now resistance

*PRICE: $1258.2 @ 2030GMT

*SUP 1: $1249.2 - Hourly breakout level Dec 13 

*SUP 2: $1240.2 - Low Dec 13 

*SUP 3: $1235.9 - Low Dec 12 

*SUP 4: $1227.8 - Low July 17

*COMMENTARY: Bears failed to capitalise further on recent fresh 6mth lows with

the bounce easing immediate bearish pressure. Correcting O/S daily studies add

support to the case for a move back to layers of resistance $1269.9-1286.3 where

DMAs and bear channel top are noted with bulls now needing a close above

$1260.1. The $1235.9 support is now key with bears needing a close below to

reconfirm a bearish bias and focus on the channel base ($1207.3).