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Focus Is On Doji Reversal *RES 4:........>

GOLD TECHS
GOLD TECHS: Focus Is On Doji Reversal
*RES 4: $1593.6 - 76.4% retracement of the Jan 8 - Jan 14 decline
*RES 3: $1592.1 - High Feb 3 and key near-term resistance
*RES 2: $1579.7 - High Feb 4
*RES 1: $1577.1 - High Feb 10
*PRICE: $1573.7 @ 07:00 GMT Feb 13
*SUP 1: $1561.0 - Low Feb 7
*SUP 2: $1547.6 - Low Feb 5 and bear trigger
*SUP 3: $1546.4 - Low Jan 21
*SUP 4: $1541.9 - 50-day EMA
This week's focus in Gold has been Monday's candle pattern known as a doji. The
pattern suggests the recent corrective recovery between Feb 5 and Feb 10 has run
its course and raises the likelihood that bearish pressure is set to resume.
This is in line with our bearish outlook following the sell-off on Feb 3 and 4.
A resumption of weakness would open $1546.4, Jan 21 low and $1536.0, Jan 14 low.
A break of $1577.1 however would alter the picture.

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