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Heading South




Breaches Key Short-Term Support


Late SOFR/Treasury Option Trade

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GOLD TECHS: Bulls Need Close Above $1284.1
*RES 4: $1299.6 - Bollinger band top 
*RES 3: $1295.9 - 55-DMA 
*RES 2: $1291.1 - Hourly resistance Oct 19 
*RES 1: $1284.1 - High Nov 2
*PRICE: $1275.8 @ 2030GMT
*SUP 1: $1271.8 - Low Nov 7 
*SUP 2: $1265.2 - Low Nov 3 
*SUP 3: $1262.2 - 200-DMA 
*SUP 4: $1260.6 - Monthly Low Oct 6
*COMMENTARY: Hesitation ahead of the 200-DMA continues which is less than ideal
for bears as pressure returns to the $1284.1 resistance. Bulls need a close
above $1284.1 to shift initial focus to $1291.1-1295.9 where the 55-DMA is found
and above $1306.0 to initially target $1320.0. Bears continue to look for a
close below the 200-DMA to add weight to their case for a test of the bull
channel base ($1253.1).

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