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###POV 6+ Yr BEAR CHANNEL BREAK IN.......>

GOLD TECHS
GOLD TECHS: ###POV 6+ Yr BEAR CHANNEL BREAK IN TROUBLE
- LT Gold bulls took comfort in the break of $1295.9 back in August. This
confirmed a break of the LT bear channel top off record highs from Sept 2011
seeing LT focus shift to layers of resistance $1374.9 (2016 High) -1527.0 (2012
Low now resistance). The failure ahead of the 2016 high has seen gold retrace
back towards the key $1180.6 (Low Jan 27) - $1232.4 (200-WMA) region where the
200-WMA and the rising daily TL ($1197.4) off late Dec 2015 lows are located.
- Given the current environment of rising US 10-yr yields there is an increased
risk of incursions into this region with LT bears needing a close below $1180.6
to confirm breaks of key LT supports and shift initial focus to tests of $1045.9
2015 lows. A close below $1045.9 then sees LT bears targeting $680.8 2008 lows.
- In order to negate this view LT bulls need to see a close above $1374.9 to
reconfirm traction above the broken LT channel top and above $1527.0 to shift
overall focus to record highs. Gold was last at $1240.4
- Click for charts https://tinyurl.com/yb58mfse 
https://tinyurl.com/y7824aua

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