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GOLD TECHS: Corrective Rebound *RES 4:...>

GOLD TECHS
GOLD TECHS: GOLD TECHS: Corrective Rebound
*RES 4: $1346.8 - High Feb 20 
*RES 3: $1337.2 - Broken trendline support from Nov lows 
*RES 2: $1330.0 - High Feb 27 
*RES 1: $1321.50 - Key Resistance 
*PRICE: $1314.9 @ 19:46 GMT Mar 20 
*SUP 1: $1292.9 - Low March 14 
*SUP 2: $1280.9 - Low March 7 
*SUP 3: $1276.8 - Low Jan 21/38.2% retracement 
*SUP 4: $1274.4 - 100-dma 
Gold has extended the recovery, but activity remains corrective. Gains have
remained below the lower boundary of the previous ascending channel, consistent
with a corrective rebound following the bearish breakout. A break above $1321.50
is needed to restore a bullish technical picture, putting the focus back on the
$1346.80 February peak. However, failure to overcome the initial resistance at
the $1321.50 level will likely return the pressure to the downside.

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