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Downtrend Resistance Holds *RES 4:.......>

GOLD TECHS
GOLD TECHS: Downtrend Resistance Holds
*RES 4: $1324.6 - High Mar 25 
*RES 3: $1310.7 - High Apr 10 
*RES 2: $1294.1 - 55-dma 
*RES 1: $1291.6/1291.7 - High Apr 26/Downtrend resistance from Feb highs
*PRICE: $1281.1 @ 02:42 GMT May 9 
*SUP 1: $1266.3 - Low May 2 
*SUP 2: $1254.7/1249.6 - 200-dma/High Dec 10 
*SUP 3: $1243.7 - High Oct 26 
*SUP 4: $1231.6/1233.0 - 61.8% retracement/Low Dec 14 
Gold failed to break above down trendline resistance from the Feb highs
yesterday, keeping the downtrend in focus and allowing bears to now target a
return to the May 2 low at $1266.3. Below here would open the 200-dma/Dec 10
high at $1254.7/1249.6 ahead of the Oct 26 high. Bulls target yesterday's high
at $1291.6 and downtrend resistance to improve the outlook and open the April 10
high at $1310.7. 

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