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GOLD TECHS: Recovery Pegged By $1278.9 Resistance On Monday
*RES 4: $1291.5 Oct 18 high
*RES 3: $1286.1 Oct 23 high
*RES 2: $1282.6 Oct 26 high
*RES 1: $1278.9 Oct 30 high
*PRICE: $1269.7 @1640GMT
*SUP 1: $1263.8 Oct 27 low
*SUP 2: $1260.7 Oct 9 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 on Friday, just ahead of the next key level, the Oct 9 low at $1260.7.
As a result, resistance now comes from yesterday's $1278.9 high and then
Thursday's $1282.6 peak. Still need back above the latter before the near term
outlook can improve. Below $1260.7 would suggest there is eventual scope for a
deeper $1248.6-$1240.9 fall.