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Impulsive bullish conditions hold *RES...>

GOLD TECHS
GOLD TECHS: Impulsive bullish conditions hold
*RES 4: $1527.0 - Low May 2012
*RES 3: $1522.8 - Low December 2011
*RES 2: $1510.5 - High Aug 8 and bull trigger
*RES 1: $1507.1 - Upper trend channel on monthly chart
*PRICE: $1495.6 @ 07:25 BST Aug 12
*SUP 1: $1490.1 - Low Aug 8
*SUP 2: $1471.4 - Low Aug 7
*SUP 3: $1453.1 - High Jul 19
*SUP 4: $1420.0 - Trendline support drawn off the may 30 low
Gold has seen gains capped since Wednesday around the $1510 level, $3 or so
above the upper band of the trend channel on the monthly chart. A move above
$1510.50 would mark a resumption of the uptrend, opening initially the December
2011 lows at $1522.8 ahead of the May 2012 low of $1527.0. Initial support lies
at $1490.1, a break would potentially open up scope for a deeper pullback
towards the $1450.0 level.

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