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Bullish Despite Yesterday's Pullback.....>

GOLD TECHS
GOLD TECHS: Bullish Despite Yesterday's Pullback
*RES 4: $1796.1 - High Oct 2012
*RES 3: $1781.0 - Mid Oct high 2012
*RES 2: $1770.1 - 1.236 projection of the Nov - Mar rally from Mar 16 low
*RES 1: $1765.4 - High May 18
*PRICE: $1736.4 @ 06:43 BST May 19
*SUP 1: $1727.4 - Low May 18
*SUP 2: $ 1718.5 - Former triangle resistance
*SUP 3: $1707.4 - 20-day EMA
*SUP 4: $ 1692.0 - Low May 11
Gold traded higher yesterday before pulling back to close at the day low. A
bullish theme remains in place reinforced by last week's key technical break, a
move out of the triangle the yellow metal had been trading within the past few
weeks. The break resulted in a climb above $1747.4, Apr 14 high confirming a
resumption of the uptrend. Attention is on $1770.1, a Fibonacci retracement
level and $1781.0, the mid Oct 2012 high. Support lies at $1727.4.

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