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Finds Some Support For Now *RES 4:.......>

GOLD TECHS
GOLD TECHS: Finds Some Support For Now
*RES 4: $1639.2 - 2.00 projection of Aug '18 - Feb '19 rally from May '19 low
*RES 3: $1611.4 - High Jan 8 and key resistance
*RES 2: $1600.0 - Round number resistance
*RES 1: $1563.1 - High Jan 10
*PRICE: $1551.6 @ 06:28 GMT Jan 15
*SUP 1: $1536.0 - Low Jan 14
*SUP 2: $1528.6 - 50% retracement of the Nov 12 - Jan 8 rally
*SUP 3: $1517.3 - Low Jan 2
*SUP 4: $1509.0 - 61.8% retracement of the Nov 12 - Jan 8 rally
Gold found support yesterday however for now the technical outlook remains
bearish. This follows the rejection of last week's $1611.4 high. The sell-off
has resulted in the formation of a bearish price sequence of lower lows and
lower highs reinforcing the current outlook. Note, in candle terms, last
Wednesday's pattern is a shooting star reversal. Scope is for weakness towards
$1528.6 next, 50% of the Nov 12 - Jan 8 rally. Initial resistance is at $1563.1.

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