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US TSY FUTURES

BLOCK, More Short End Sales

COPPER TECHS

(U2) Downtrend Extends

LNG

Spreads Maintain Strong LNG to Europe

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Corrective Bounce Extends

GOLD TECHS
  • RES 4: $1919.9 - High Apr 29 and key resistance
  • RES 3: $1909.8 - High May 5
  • RES 2: $1859.6 - 20-day EMA
  • RES 1: $1858.8 - High May 12
  • PRICE: $1855.0 @ 07:18 BST May 23
  • SUP 1: $1807.5/1787.0 - Low May 18
  • SUP 2: $1780.4 - Low Jan 28 and a key support
  • SUP 3: $1753.7 - Low Dec 15 2021
  • SUP 4: $1749.3 - 1.236 proj of the Mar 8 - 29 - Apr 18 price swing

Gold remains in a downtrend despite the recovery from last Monday’s low of $1787.0. A bearish price sequence of lower lows and lower highs remains intact and moving average studies are in a bear mode. The yellow metal has also recently traded through the $1800.0 handle. This signals scope for $1784.4, the Jan 28 low. Initial resistance has been defined at $1858.8, the May 12 high ahead of the 20-day EMA at $1859.6.

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  • RES 4: $1919.9 - High Apr 29 and key resistance
  • RES 3: $1909.8 - High May 5
  • RES 2: $1859.6 - 20-day EMA
  • RES 1: $1858.8 - High May 12
  • PRICE: $1855.0 @ 07:18 BST May 23
  • SUP 1: $1807.5/1787.0 - Low May 18
  • SUP 2: $1780.4 - Low Jan 28 and a key support
  • SUP 3: $1753.7 - Low Dec 15 2021
  • SUP 4: $1749.3 - 1.236 proj of the Mar 8 - 29 - Apr 18 price swing

Gold remains in a downtrend despite the recovery from last Monday’s low of $1787.0. A bearish price sequence of lower lows and lower highs remains intact and moving average studies are in a bear mode. The yellow metal has also recently traded through the $1800.0 handle. This signals scope for $1784.4, the Jan 28 low. Initial resistance has been defined at $1858.8, the May 12 high ahead of the 20-day EMA at $1859.6.