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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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Eyeing Key Support

  • RES 4: $1768.1 - 50-day EMA
  • RES 3: $1755.5 - High Mar 18 and key resistance
  • RES 2: $1736.9 - 20-day EMA
  • RES 1: $1699.3 - Low Mar 12
  • PRICE: $1685.0 @ 07:19 GMT Mar 31
  • SUP 1: $1678.0 - Intraday low
  • SUP 2: $1676.9 - Low Mar 8 and the bear trigger
  • SUP 3: $1671.0 - Low Jun 5, 2020
  • SUP 4: $1659.6 - Low Apr 21, 2020

Gold traded lower again Tuesday and remains heavy. The yellow metal has cleared support at $1719.3, Mar 18 low and $1699.3, Mar 12 low. The breach of $1699.3 yesterday marked a key intraday development and reinforces a bearish threat plus signals scope for a move towards $1676.9, the Mar 8 low and a bear trigger. Key short-term resistance has been defined at $1755.5, Mar 18 high.

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