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$1340.0 Stands In The Way Of Fresh.......>

GOLD TECHS
GOLD TECHS: $1340.0 Stands In The Way Of Fresh Upside Potential
*RES 4: $1367.3 Aug 1 high
*RES 3: $1357.7 Sep 4 high
*RES 2: $1344.8 Jan 15 high
*RES 1: $1340.0 Hourly resistance
*PRICE: $1337.7 @1700GMT
*SUP 1: $1322.2 Hourly support
*SUP 2: $1315.8 Jan 11 low
*SUP 3: $1308.3 Jan 10 low
*SUP 4: $1303.5 38.2% Fibo of $1236.6-$1344.8
*COMMENTARY* The move above the 76.4% Fibo retrace level at $1284.5 gave the
upside the impetus it required. This makes the $1357.7-$1236.6 fall seen from
last September look like a three wave correction. We have held above $1305.9
support over the last few weeks. The subsequent break through $1337.1 the next
upside boost, as we make our way back towards the Sep 4 high at $1357.7.
Currently correcting some overbought conditions, support $1322.2-$1315.8.

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