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$1260.7-$1267.8 The Near Term Bar To.....>

GOLD TECHS
GOLD TECHS: $1260.7-$1267.8 The Near Term Bar To Further Gains
*RES 4: $1275.3 61.8% Fibo of $1299.3-$1236.6
*RES 3: $1270.4 Nov 30 low, now resistance
*RES 2: $1267.8 Underside broken 2017 bull channel
*RES 1: $1261.9 Dec 15 high
*PRICE: $1258.1 @1040GMT
*SUP 1: $1245.4 Hourly support
*SUP 2: $1236.6 Dec 12 low
*SUP 3: $1232.6 1.618 swing of $1260.7-$1306.1
*SUP 4: $1230.9 1.618x $1306.1-$1263.8 from $1299.3
*COMMENTARY* A low of $1236.6 last Tuesday, above the next targeted support area
from between $1232.6-$1230.9. The subsequent bounce, aided by some heavily
oversold conditions as a result of this month's decline from $1299.3, now faces
resistance from $1260.7-$1261.9, ahead of a return towards the base of the
broken 2017 bull channel at $1267.8. Will need back above here, before any real
upside interest will appear. Nearest support in the meantime, rises to $1245.4.

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