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Northound

GOLD TECHS
  • RES 4: $2452.5 - 2.618 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 3: $2429.0 - 2.50 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 2: $2405.6 - 2.382 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 1: $2395.5 - Intraday high
  • PRICE: $2385.1@ 07:18 BST Apr 12
  • SUP 1: $2319.5/2256.5 - Low Apr 10 / 20-day EMA
  • SUP 2: $2169.0 - 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 higher today, extending the current impulsive bull phase. The move higher maintains the 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 next objective is $2405.5, a Fibonacci projection. Initial firm support is at $2256.5, the 20-day EMA.

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