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Rally Extends

GOLD TECHS
Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesBullet
  • RES 4: $1807.9 - High Aug 10 and a key resistance
  • RES 3: $1800.0 Psychological round number
  • RES 2: $1765.5 - High Aug 25
  • RES 1: $1764.4 - Intraday high
  • PRICE: $1756.6 @ 07:10 GMT Nov 11
  • SUP 1: $1702.3 - Low Nov 9
  • SUP 2: $1675.4 - 20-day EMA
  • SUP 3: $1615.0 - Low Sep 28 and a bear trigger
  • SUP 4: $1610.5 - 1.00 proj of the Jun 13 - Jul 21 - Aug 10 swing

Gold found support again Thursday and rallied sharply higher. This week’s gains have resulted in the break of a number of important resistance points. Yesterday’s rally cleared $1729.5, the Oct 4 high. This strengthens the current bullish theme and paves the way for a climb towards the $1800.0 handle and resistance at $1807.9, the Aug 10 high. On the downside, initial support is seen at $1702.3, the Nov 9 low.

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  • RES 4: $1807.9 - High Aug 10 and a key resistance
  • RES 3: $1800.0 Psychological round number
  • RES 2: $1765.5 - High Aug 25
  • RES 1: $1764.4 - Intraday high
  • PRICE: $1756.6 @ 07:10 GMT Nov 11
  • SUP 1: $1702.3 - Low Nov 9
  • SUP 2: $1675.4 - 20-day EMA
  • SUP 3: $1615.0 - Low Sep 28 and a bear trigger
  • SUP 4: $1610.5 - 1.00 proj of the Jun 13 - Jul 21 - Aug 10 swing

Gold found support again Thursday and rallied sharply higher. This week’s gains have resulted in the break of a number of important resistance points. Yesterday’s rally cleared $1729.5, the Oct 4 high. This strengthens the current bullish theme and paves the way for a climb towards the $1800.0 handle and resistance at $1807.9, the Aug 10 high. On the downside, initial support is seen at $1702.3, the Nov 9 low.