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GOLD TECHS: Focus Still On Weakness
*RES 4: $1557.3 - Trend high Sep 4
*RES 3: $1535.8 - High Sep 24
*RES 2: $1519.8 - High Oct 3
*RES 1: $1501.9 - Channel resistance drawn off Sep 4 high
*PRICE: $1493.2 @ 06:33 BST Oct 24
*SUP 1: $1473.9 - Low Oct 11
*SUP 2: $1459.0 - Low Oct 1 and bear trigger
*SUP 3: $1445.8 - 38.2% retracement of Apr 24 - Sep 4 rally
*SUP 4: $1430.3 - Low Aug 2
No change in Gold as the yellow metal continues to trade in a relatively tight
range. Price has most recently pulled away from the bear channel top drawn off
the Sep 4 high that intersects at $1501.9 today. This maintains a near-term
bearish bias with attention on $1473.9, Oct 11 low. A break would open $1459.0.
The condition for a stronger recovery to extend the rally off the Oct low is
unchanged and remains a channel breakout. This would open $1535.8 and $1557.3.