GOLD TECHS: Monitoring Support At The 50-Day EMA

• RES 4: $2814.7- 3.618 proj of the Jul 25 - Aug 2 - Aug 5 price swing   
• RES 3: $2800.0 - Round number resistance
• RES 2: $2790.1 - High Oct 31 and the bull trigger
• RES 1: $2710.3/2750.0 - 20-day EMA / High Nov 5    
• PRICE: $2661.8 @ 07:20 GMT Nov 7
• SUP 1: $2643.4 - 50-day EMA and a key short-term support  
• SUP 2: $2628.2 - Low Oct 11  
• SUP 3: $2604.9 - Low Oct 8 
• SUP 4: $2547.0 - Low Sep18  

The trend condition in Gold is unchanged, it remains bullish and the latest pullback is considered corrective. The yellow metal has cleared the 20-day EMA and this highlights potential for an extension of the corrective cycle. Attention is on a key support at $2643.4, the 50-day EMA. A clear break of this average would expose $2604.9, the Oct 8 low. For bulls a reversal higher would refocus attention on the bull trigger at $2790.1, the Oct 31 high.