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CORN TECHS

(N1) Needle Still Points North

SOY TECHS

(N1) Bullish Theme

COPPER TECHS

(K1) Breaks Out Of Its Recent Range

OPTIONS

Larger FX Option Pipeline

USD

Greenback Weakness Resumes into NY Hours

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  • RES 4: $1805.7 - High Feb 25
  • RES 3: $1760.7/75.9 - Low Feb 19 / High Feb 26
  • RES 2: $1740.7 - High Mar 3
  • RES 1: $1723.3 - Low Mar 4
  • PRICE: $1692.5 @ 07:07 GMT Mar 9
  • SUP 1: $1676.9 - Low Mar 8
  • SUP 2: $1671.0 - Low Jun 5, 2020
  • SUP 3: $1659.6 - Low Apr 21, 2020
  • SUP 4: $1640.9 - Low Apr 8, 2020

Gold remains in a clear downtrend with the recent breach of $1760.67, Feb 19 low weighing on the yellow metal. The break confirmed a resumption of the broader downtrend that started in August 2020. Last week's extension lower reinforces bearish conditions with $1700.0 breached. Moving average studies are also in a bear mode highlighting the path of least resistance. Initial firm resistance is $1740.7, Mar 3 high.