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Following up on Gold from Friday: So.....>

GOLD TECHS
GOLD TECHS: Following up on Gold from Friday: So far, bullish price action seen
early Friday has not developed into a more meaningful recovery. If anything,
Friday's price action at the close appears more bearish. The candle pattern is a
doji and this suggests the most recent recovery was a correction and that the
correction ended at Friday's high. If correct, it leaves support at $1473.9
exposed, Oct 11 low. A break of this level would confirm a resumption of bearish
activity and open the early Oct low of $1459.0. The key resistance to watch is
$1519.8, Oct 3 high. A break higher would instead refocus attention on the
downside. For now though, it appears the risk is skewed to the downside.

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