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Firmer *RES 4: $1611.4 - High Jan 8......>

GOLD TECHS
GOLD TECHS: Firmer
*RES 4: $1611.4 - High Jan 8 and key resistance
*RES 3: $1600.0 - Round number resistance
*RES 2: $1582.6 - 61.8% retracement of the Jan 8 - Jan 14 decline
*RES 1: $1573.7 - 50.0% retracement of the Jan 8 - Jan 14 decline
*PRICE: $1567.1 @ 06:41 GMT Jan 21
*SUP 1: $1548.1 - Low Jan16
*SUP 2: $1536.0 - Low Jan 14 and bear trigger
*SUP 3: $1528.6 - 50% retracement of the Nov 12 - Jan 8 rally
*SUP 4: $1517.3 - Low Jan 2
Gold has edged higher overnight breaking above resistance at $1563.1, Jan 10
high. Attention turns to the 61.8% retracement next at $1582.6 of the Jan 8 -
Jan 14 decline. A break of this level is required to further strengthen the
bullish outlook and signal scope for a climb towards key resistance at $1611.4.
Initial support has been identified at $1548.1, Jan 16 low. A break would
instead signal a resumption of bearish pressure and open $1536.0, Jan 14 low.

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