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Continues To Climb

GOLD TECHS
  • RES 4: $1934.4 - High Apr 25, 2022
  • RES 3: $1919.9 - High Apr 29, 2022
  • RES 2: $1909.8 - High May 5, 2022
  • RES 1: $1896.5 - 61.8% retracement of the Mar - Sep bear leg
  • PRICE: $1882.00 @ 07:19 GMT Jan 11
  • SUP 1: $1825.2 - Low Jan 5 and key near-term support
  • SUP 2: $1797.1 - Low Dec 28
  • SUP 3: $1774.0 - Low Dec 15
  • SUP 4: $1765.9 - Low Dec 5

Trend conditions in Gold remain bullish and the yellow metal continues to trade higher, extending the current uptrend. The move higher maintains the positive price sequence of higher highs and higher lows and note that moving average studies are in a bull mode position - reflecting the current uptrend. The focus is on $1896.5, a Fibonacci retracement. On the downside, support to watch lies at $1825.2, Jan 5 low.

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