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Holding On To This Week’s Gains

GOLD TECHS
  • RES 4: $2429.0 - 2.50 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 3: $2405.5 - 2.382 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 2: $2376.5 - 2.236 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 1: $2365.4 - High Apr 9
  • PRICE: $2359.3 @ 07:22 BST Apr 10
  • SUP 1: $2267.9/2234.8 - Low Apr 5 / 20-day EMA
  • SUP 2: $2153.7 - 50-day EMA
  • SUP 3: $2146.2 - Low Mar 18 and key short-term support
  • SUP 4: $2088.5 - High Dec 28

The trend condition in Gold remains bullish and the yellow metal is trading at this week’s highs. The move higher maintains the bullish price sequence of higher highs and higher lows and note that moving average studies are in a bull-mode condition, reflecting positive market sentiment. The $2300.0 handle has been pierced. The next objective is $2376.5, a Fibonacci projection. Initial firm support is at $2234.8, the 20-day EMA.

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