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Needle Still Points North

GOLD TECHS
  • RES 4: $1965.6 - High Nov 9, 2020
  • RES 3: $1959.4 - High Jan 6 and key resistance
  • RES 2: $1927.7 - High Jan 7
  • RES 1: $1917.6 - High Jan 8
  • PRICE: $1899.2 @ 07:19 BST Jun 3
  • SUP 1: $1872.8/52.3 - Low May 25 / Low May 19
  • SUP 2: $1826.4 - 50-day EMA
  • SUP 3: $1808.9 - Low May 13
  • SUP 4: $1782.1 - Low May 6

Gold bulls remain in charge. Last week's gains confirmed once again a resumption of the underlying uptrend as the bullish price sequence of higher highs and higher lows extends. The yellow metal also traded higher Tuesday. Price recently cleared $1892.7, 76.4% of the Jan 6 - Mar 8 sell-off. This signals scope for $1917.6, high Jan 8 and further out, attention is on $1959.4, Jan 6 high and key resistance. Initial firm support is $1852.3.

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