Uptrend Support Gives Way *RES 4:........>

GOLD TECHS: Uptrend Support Gives Way

*RES 4: $1326.0 - High May 11 

*RES 3: $1300.0 - Pivot area 

*RES 2: $1266.9 - 200-dma 

*RES 1: $1243.5 - High Oct 26 

*PRICE: $1219.5 @ 06:15 GMT 

*SUP 1: $1212.0 - Low Oct 31 

*SUP 2: $1209.7 - 55-dma 

*SUP 3: $1180.9 - Sep 28 

*SUP 4: $1160.4 - Low Aug 16 

Gold has broken below up trendline support from the Oct 10 lows, giving bears

the upper hand to target the Oct 31 low at $1212. Below here would open the

55-dma at $1209.7, below which the broader downtrend would resume. On the

upside, bulls would need to see a break above the Oct 26 high at $1243.5 to

trigger renewed upside momentum and target the 200-dma at $1266.9.