Loss Of $1263.8 Support Would Become A...>

GOLD TECHS: Loss Of $1263.8 Support Would Become A Concern

*RES 4: $1291.5 Oct 18 high

*RES 3: $1286.1 Oct 23 high

*RES 2: $1280.3 Intraday high

*RES 1: $1273.6 Hourly resistance

*PRICE: $1268.1 @1605GMT

*SUP 1: $1263.8 Oct 27 low

*SUP 2: $1260.7 Oct 6 low

*SUP 3: $1251.7 Aug 8 low

*SUP 4: $1248.6 2017 bull channel base

*COMMENTARY* The $1271.4 support level gave way last week, resulting in a low of

$1263.8, just ahead of the next key level, the Oct 9 low at $1260.7. As a

result, became oversold on a near term basis and the move back to $1280.3 has

done much to alleviate this, ahead of the $1286.1 resistance level. Meanwhile,

today's subsequent loss of $1271.0-$1267.7 support concerns and may well see the

downside under pressure again.