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Bulls Eye $2000.00

  • RES 4: $2065.4 - 2.382 proj of Dec '19 - Mar rally from Mar 16 low
  • RES 3: $2027.7 - 2.236 proj of Dec '19 - Mar rally from Mar 16 low
  • RES 2: $2000.0 - Psychological round number
  • RES 1: $1981.3 - Intraday and all-time high
  • PRICE: $1941.7 @ 07:16 BST Jul 28
  • SUP 1: $1899.9 - Low Jul 27
  • SUP 2: $1863.8 - Low Jul 23
  • SUP 3: $1841.2 - Low Jul 22
  • SUP 4: $1817.8 - 20-day EMA

Gold rallied further overnight but has given up the gains and is trading
near today's low. A bullish outlook remains intact. Yesterday, the yellow
metal traded to a new all time high of $1944.7 and today's gains have
seen a print of $1981.3. A strong impulsive bull run has dominated
despite being overbought and gold looks set to extend the current rally.
The focus is on the psychological $2000.0 level. $1899.9 is support.

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