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Closed Above $1300 *RES 4: $1327.8 -.....>

GOLD TECHS
GOLD TECHS: Closed Above $1300
*RES 4: $1327.8 - 76.4% retracement of Feb-Apr fall
*RES 3: $1324.6 - High Mar 25
*RES 2: $1319.3 - High Mar 27
*RES 1: $1316.1 - 61.8% retracement of Feb-Apr fall
*PRICE: $1310.3 @ 06:28 GMT Jun 3
*SUP 1: $1299.8 - Hourly support May 31
*SUP 2: $1296.8 - 100-DMA
*SUP 3: $1289.6 - 50% retracement of May rally
*SUP 4: $1288.1 - Low May 31
Gold closed above the $1300 level on Friday for the first time since Apr 10. The
risk-averse tone spilled over into Asia with the yellow metal extending May's
rally to $1312.85. The underlying tone holds firm with bulls looking to clear
the 61.8% retracement of the Feb-Apr fall to extend the uptrend. Above here
opens the Mar 27/Mar 25 highs at $1319.3/1324.6. On the downside May 31 hourly
support is located at $1299.81, a break opens the 100-dma at $1296.8.

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