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Based Ahead of $1308 *RES 4: $1388.0 -...>

GOLD TECHS
GOLD TECHS: Based Ahead of $1308
*RES 4: $1388.0 - High Mar 14, 2014
*RES 3: $1365.2 - High April 11
*RES 2: $1360.0 - Downtrend resistance from July 11 high
*RES 1: $1326.3 - High Jan 31
*PRICE: $1313.98 @ 06:39 GMT Feb 5
*SUP 1: $1298.6 - High Jan 4, now support
*SUP 2: $1276.8 - Low Jan 21
*SUP 3: $1260.0 - Double top downside target
*SUP 4: $1245.87 - 200-dma
Gold's corrective pullback based ahead of $1308 Monday, after stalling ahead of
$1317. The outright bullish trend remains intact with topside focus on a break
of the Jan 31 high, above here brings down trendline resistance from the July 11
high into play at $1360.0. A downside break of the Jan 4 high would see bears
target the Jan 21 low at $1276.8 to mount a bearish reversal. Below here opens
the 55-dma at $1270.08, ahead of the double-top downside target at $1260.0.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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