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Gold is consolidating. The outlook.......>

GOLD TECHS
GOLD TECHS: Gold is consolidating. The outlook though remains bullish following
last weeks important technical break through the bear channel resistance drawn
off the Sep 4 high. The yellow metal is holding onto recent gains and the focus
is on the next important resistance at $1419.7, Oct 3 high. A break here would
open $1535.7, Sep 24 high. Momentum conditions have entered overbought
territory, but this does not appear to be a concern for bulls right now. Initial
support lies at $1497.6. The former channel top-now-support lies at $1476.1.
Bullish!

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