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Focus Is On Resistance At $1721.5 *RES...>

GOLD TECHS
GOLD TECHS: Focus Is On Resistance At $1721.5
*RES 4: $1754.0 - High May 20
*RES 3: $1745.4 - High Jun 2
*RES 2: $1732.3 - High Jun 3
*RES 1: $1721.5 - High Jun 4 and key intraday resistance
*PRICE: $1718.2 @ 06:50 BST Jun 10
*SUP 1: $1671.0 - Low May 1
*SUP 2: $1659.6 - Low Apr 21 and key support
*SUP 3: $1640.9 - Low Apr 8
*SUP 4: $1608.5 - 50.0% retracement of the Mar 16 - May 18 rally
Gold bounced recently off the Jun 5 low of $1671.0 and is holding onto recent
gains. The yellow metal needs to clear immediate resistance at $1721.5, Jun 4
high if it is to offset recent bearish signals. This would refocus attention on
resistance at $1745.4, Jun 2 high and $1765.4, the key May 18 trend high. Key
support and the bear trigger lies at $1671.0. A move below this support would
represent a key short-term bearish development.

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