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Extends Gains Following Triangle.........>

GOLD TECHS
GOLD TECHS: Extends Gains Following Triangle Breakout
*RES 4: $1800.0 - Psychological round number
*RES 3: $1796.1 - High Oct 2012
*RES 2: $1781.0 - Mid Oct high 2012
*RES 1: $1770.1 - 1.236 projection of the Nov - Mar rally from Mar 16 low
*PRICE: $1763.5 @ 06:49 BST May 18
*SUP 1: $1747.4 - High Apr 14 and former breaking point
*SUP 2: $1763.7 - Intraday low
*SUP 3: $1729.0 - Low May 15
*SUP 4: $1704.8 - 20-day EMA
Gold is trading higher and maintains a clear bullish theme. Last week's key
technical break was a move out of the triangle formation the yellow metal had
been trading within the past few weeks. The break has resulted in a move above
$1747.4, Apr 14 high and confirms a resumption of the underlying uptrend.
Attention is on $1770.1, a Fibonacci retracement level and $1781.0, the mid Oct
2012 high. Initial support lies at $1747.4.

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