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PMI Prints Weaker In Aggregate For September


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GOLD TECHS: Downside Focus
*RES 4: $1572.2 - 1.618 projection of Oct 1 - Oct 3 rally from Oct 11 low
*RES 3: $1557.3 - Trend high Sep 4
*RES 2: $1535.8 - High Sep 24
*RES 1:$1519.8 - High Oct 3 and key near-term resistance
*PRICE: $1489.5 @ 07:10 BST Oct 30
*SUP 1: $1481.0 - Intraday low
*SUP 2: $1473.9 - Low Oct 11
*SUP 3: $1459.0 - Low Oct 1 and bear trigger
*SUP 4: $1436.8 - Low Aug 5
Gold is bearish although is firmer today. Price action Friday failed to develop
into a more a more meaningful recovery and stalled ahead of $1519.80. Friday's
price action in candle terms was a doji suggesting the most recent recovery was
a correction and that the correction ended at Friday's high. Monday sell-off
confirmed this and opens support at $1473.9, Oct 11 low. A break would target
$1459.0. Clearance of $1519.8 is needed to reinstate a bullish outlook.

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