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Off Monday's High

GOLD TECHS
  • RES 4: $1965.6 - High Nov 9 and key resistance
  • RES 3: $1918.2 - 76.4% retracement of the Nov 9 - 30 sell-off
  • RES 2: $1906.8 - High Dec 21
  • RES 1: $1884.3 - High Dec 22
  • PRICE: $1867.5 @ 07:18 GMT Dec 23
  • SUP 1: $1855.4 - Low Dec 21
  • SUP 2: $1844.9 - Low Dec 16
  • SUP 3: $1818.9 - Low Dec 14 and key near-term support
  • SUP 4: $1807.5 - Low Dec 2

Gold is trading lower from Monday's high of $1906.82 following a volatile start to this week's session. A bullish condition remains intact though. Price recently traded above resistance at $1899.2, Nov 16 high. The break strengthens bullish conditions and signal scope for a climb towards $1918.2, a Fibonacci retracement. Key S/T support has been defined at $1818.9. A break is required to reinstate a bearish threat. Initial support is at 1855.4.

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