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Approaching trendline support *RES 4:....>

GOLD TECHS
GOLD TECHS: Approaching trendline support
*RES 4: $1587.0 - 61.8% retracement of the 2011 to 2015 decline
*RES 3: $1557.3 - High Sep 4 and key resistance
*RES 2: $1528.3 - High Sep 6
*RES 1: $1502.7 - Intraday high
*PRICE: $1493.4 @ 07:19 BST Sep 11
*SUP 1: $1484.6 - Low Sep 10
*SUP 2: $1481.4 - Trendline support drawn off the May 30 low
*SUP 3: $1471.4 - Low Aug 7
*SUP 4: $1453.1 - High Jul 19
Gold weakness extended yesterday. The yellow metal has this week traded to a low
just ahead of trendline support drawn off the May 30 low, at $1481.4 today.
While current conditions remain bearish, a break of the trendline is required to
confirm potential for the next leg lower. Thus far, prices are finding near-term
support ahead of the line. If the trendline holds and impulsive gains above
$1500.0 follow, this could alter the picture.

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