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55-DMA Resistance Gives Way *RES 4:......>

GOLD TECHS: 55-DMA Resistance Gives Way
*RES 4: $1266.0 - High July 9 
*RES 3: $1235.2 - High July 26 
*RES 2: $1214.4 - High Aug 28 
*RES 1: $1211.1 - High Sep 21 
*PRICE: $1205.5.4 @ 06:42 GMT 
*SUP 1: $1203.5 - 55-dma 
*SUP 2: $1160.4 - Low Aug 16 
*SUP 3: $1122.9 - Low December 15 2016 
*SUP 4: $1100.0 - Support 
Gold managed to finally break above key resistance at its 55-dma yesterday
shifting the outlook bullish and towards the Sep 21 high at $1211.1. A break
above here and the Aug 28 just above it would signal a potential bottoming
pattern. Bears now need to break back below the 55-dma at $1203.5 to return the
outlook neutral before targeting the Aug 16 lows at $1160.4. A break below here
would strengthen the long-term downtrend and target the Dec 2016 low at $1122.9.

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