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Clears Support

GOLD TECHS
  • RES 4: $2100.0 - Round number resistance
  • RES 3: $2075.5 - All-Time High Aug 7 2020
  • RES 2: $2070.4 - High Mar 8 and a key resistance
  • RES 1: $2022.6/2063.0 - High May 12 / 4 and key resistance
  • PRICE: $1966.4 07:24 BST May 19
  • SUP 1: $1952.0 - Low May 18
  • SUP 2: $1934.3 - Low Mar 22
  • SUP 3: $1922.5 - Trendline support drawn from the Nov 3 2022
  • SUP 4: $1900.0 - Round number support

Gold remains in a bearish cycle and is trading closer to its recent lows. The yellow metal has cleared support at $1976.2, the 50-day EMA and $1969.3, the Apr 19 low. A clear break of this support zone highlights a stronger bearish threat and opens $1934.3, the Mar 22 low. Key resistance and the bull trigger is at $2063.0, the May 4 high. Initial firm resistance is at $2022.6, the May 12 high.

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