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$1519.8 Is Pivotal Resistance *RES 4:....>

GOLD TECHS
GOLD TECHS: $1519.8 Is Pivotal Resistance
*RES 4: $1572.2 - 1.618 projection of Oct 1 - Oct 3 rally from Oct 11 low
*RES 3: $1557.3 - Trend high Sep 4
*RES 2: $1535.8 - High Sep 24
*RES 1:$1519.8 - High Oct 3 and key near-term resistance
*PRICE: $1507.0 @ 06:54 BST Oct 28
*SUP 1: $1433.4 - Former channel resistance drawn off Sep 4 high
*SUP 2: $1480.9 - Low Oct 22
*SUP 3: $1473.9 - Low Oct 11
*SUP 4: $1459.0 - Low Oct 1 and bear trigger
Gold showed some signs of bullish life Friday, however price action is difficult
to read. The move higher Friday found resistance just ahead of $1519.8 key
resistance, Oct 3 high. The close near the low of the day is a bearish
development however, last week's channel breakout is a bullish outcome. Key will
be whether the gold is able to clear $1519.8, this would likely attract bullish
interest. A failure and move below $1473.9 would reinstate a bearish theme.

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