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$1307.3 Now Next Support As Decline......>

GOLD TECHS
GOLD TECHS: $1307.3 Now Next Support As Decline Continues
*RES 4: $1345.8 Apr 20 high
*RES 3: $1341.0 Apr 19 low, now resistance
*RES 2: $1334.9 Base of broken 9 week bull channel
*RES 1: $1327.2 Apr 27 high
*PRICE: $1317.0 @1618GMT
*SUP 1: $1310.2 Intraday low
*SUP 2: $1307.3 Mar 20 low
*SUP 3: $1302.8 Mar 1 low
*SUP 4: $1286.1 61.8% Fibo of $1236.6-$1366.2
*COMMENTARY* Last Monday saw a break below the 8 week bull channel, at $1334.9
today, following the failure to reclaim levels back above the year's $1366.2
high earlier in the month. Further loss of the 61.8% Fibo retrace level at
$1326.7, opens the way for a continued fall. $1307.3 now keeping us away from a
move back towards the year's $1302.2 low. In the meantime, $1327.2 and that
$1334.9 level provides initial resistance to any recovery efforts.

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