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GOLD TECHS: Rally Extends *RES 4:........>

GOLD TECHS
GOLD TECHS: GOLD TECHS: Rally Extends
*RES 4: $1639.2 - 2.00 projection of Aug '18 - Feb '19 rally from May '19 low
*RES 3: $1600.0 - Round number resistance
*RES 2: $1595.2 - 1.764 projection of Aug '18 - Feb '19 rally from May '19 low
*RES 1: $1588.1 - Intraday high
*PRICE: $1573.1 @ 07:22 GMT Jan 6
*SUP 1: $1557.1 - High Sep 4 and former breakout level
*SUP 2: $1528.1 - Low Jan 3
*SUP 3: $1414.8 - Low Dec 31
*SUP 4: $1497.6 - Low Dec 26
Gold remains bullish and tensions in the Middle East continue to provide
support. The bullish technical theme follows the recent break of channel
resistance on Dec 23 and the subsequent impulsive drive higher. Price action has
today cleared an important resistance at $1557.1, Sep 4 high. This is a
significant break, it confirms a resumption of the bull trend that started in
Sep 2018 opening $1600.0 next. Initial support is at $1557.1.

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