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Corrective Pullback *RES 4: $1388.0 -....>

GOLD TECHS
GOLD TECHS: Corrective Pullback
*RES 4: $1388.0 - High Mar 14, 2014
*RES 3: $1365.2 - High April 11
*RES 2: $1360.0 - Downtrend resistance from July 11 high
*RES 1: $1326.3 - High Jan 31
*PRICE: $1313.6 @ 07:19 GMT Feb 2
*SUP 1: $1298.6 - High Jan 4, now support
*SUP 2: $1276.8 - Low Jan 21
*SUP 3: $1260.0 - Double top downside target
*SUP 4: $1245.8 - 200-dma
Gold extends its corrective pullback off the Jan 31 high with a +$10 reversal
through $1309. This brings the Jan 4 high at $1298.60 into view, a break would
see bears target the Jan 21 low at $1276.8 to mount a bearish reversal. Below
here opens the 55-dma at $1268.45, ahead of the double-top downside target at
$1260.00. Bulls' focus remains on the Jan 31 high at $1326.33, above here brings
down trendline resistance from the July 11 high into play.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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