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21-DMA Caps Gains *RES 4: $1309.4 -......>

GOLD TECHS
GOLD TECHS: 21-DMA Caps Gains
*RES 4: $1309.4 - High June 14 
*RES 3: $1300.0 - Pivot area 
*RES 2: $1294.1 - Triangle top 
*RES 1: $1286.2 - 21-dma
*PRICE: $1281.9 @ 06:12 GMT Jan 24 
*SUP 1: $1276.8 - Low Jan 21 
*SUP 2: $1260.0 - Double top downside target 
*SUP 3: $1246.2 - 200-dma 
*SUP 4: $1241.8 - Low Dec 19 
Gold's recovery has failed to take out the 21-dma which keeps the focus on the
downside and on Monday's low at $1276.8. Below here would add to bearish
momentum and open a run at the double top downside target at $1260. Below here
would extend the reversal towards the 200-dma at $1246.2. Bulls need a break
above the 21-dma to open triangle top resistance at $1295.1. Above here would
trigger a continuation pattern, targeting the $1300 pivot area initially.

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