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Consolidates But Focus Is On Gains.......>

GOLD TECHS
GOLD TECHS: Consolidates But Focus Is On Gains
*RES 4: $1700.0 - Round number resistance
*RES 3: $1689.3 - High Feb 24 and key resistance
*RES 2: $1664.0 - High Feb 25
*RES 1: $1652.7 - High mar 4
*PRICE: $1638.0 @ 06:31 GMT Mar 5
*SUP 1: $1586.7 - Low Mar 3
*SUP 1: $1563.1 - Low Feb 28
*SUP 3: $1547.6 - Low Feb 5
*SUP 4: $1536.0 - Low Jan 14
Gold rallied Tuesday and for now is consolidating. The metal recently pulled
back to a key area of support at $1570.75, the 50-day EMA. This is an average
used to assess the direction of a trend, with a positive slope it suggests the
direction is up. The sharp rally off the average also suggests the bull trend is
resuming and attention is on $1689.3, Feb 24 high. This is the bull trigger, a
break would confirm a resumption of the rally. Key support is $1563.1.

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