Still Bearish *RES 4: $1496.2 -..........>

GOLD TECHS: Still Bearish

*RES 4: $1496.2 - Channel top drawn off Sep 4 high

*RES 3: $1492.2 - High Nov 7

*RES 2: $1478.9/80.9 - High Nov 20 / 50% of Nov 1 - Nov 12 decline

*RES 1: $1473.3 - High Nov 22

*PRICE: $1458.0 @ 06:42 GMT Nov 29

*SUP 1: $1450.1 - Low Nov 26

*SUP 2: $1445.7 - Low Nov 12 and bear trigger

*SUP 3: $1436.8 - Low Aug 5

*SUP 4: $1416.9 - Projected channel base drawn off Sep 4 high

Gold activity is quiet but maintains a softer tone having recently pulled back

from last weeks $1478.9 high. The broader outlook too is unchanged and remains

bearish following this months break of key support at $1474.1, Oct 11 low and

$1459.1, Oct 1 low. The break of the latter level confirmed a resumption of the

decline that has been in place since prices peaked at $1557.1 on Sep 3.

Attention is on $1445.7, Nov 12 low and the bear trigger. $1478.9 is resistance.