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Probes Channel Resistance *RES 4:........>

GOLD TECHS
GOLD TECHS: Probes Channel Resistance
*RES 4: $1518.0 - High Oct 25 and key resistance
*RES 3: $1510.0 - High Nov 5
*RES 2: $1486.8 - High Dec 12
*RES 1: $1485.1 - Intraday high
*PRICE: $1484.5 @ 08:11 GMT Dec 23
*SUP 1: $1470.5 - Low Dec 18
*SUP 2: $1462.5 - Low Dec 13
*SUP 3: $1458.8 - Low Dec 6 and 9 and key support
*SUP 4: $1450.1 - Low Nov 26
Gold is edging higher today. The yellow metal has probed a key resistance at
$1481.00. This is the top of the bear channel drawn off the Sep 14 high. The
move higher represents a potentially important break and if resistance at
$1486.8, Dec 12 high is cleared as well, this would signal a potential reversal
and open the $1500.0 level and $1518.0, Oct 25 high. On the downside initial
support lies at $1470.5, Dec 18 low.

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