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Contracting Range *RES 4: $1365.2 -.....>

GOLD TECHS: Contracting Range 
*RES 4: $1365.2 - High April 11 
*RES 3: $1317.6 - 76.4% of 2018 range 1366.15-1160.39 
*RES 2: $1309.4 - High June 14 
*RES 1: $1300.0 - Pivot area 
*PRICE: $1291.9 @ 05:58 GMT Jan 15 
*SUP 1: $1276.7 - Low Jan 4 
*SUP 2: $1248.8 - 200-dma 
*SUP 3: $1241.8 - Low Dec 19 
*SUP 4: $1225.0 - Up trendline support from Aug low 
Gold continues to trade in a contracting range with a break above the $1300
pivot area needed to trigger a bullish pennant breakout. Above here would bring
the Jun 14 high & 76.4% retracement at $1309.40/1317.59 into play. Key support
sits at the Jan 4 low at $1276.7. Below here would raise the chances of a
bearish reversal, opening the 200-dma at $1248.8.

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