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Recovery Still Eyes A Test To The........>

GOLD TECHS
GOLD TECHS: Recovery Still Eyes A Test To The 76.4% Fibo Retrace Level
*RES 4: $1289.0 Jun 8 high
*RES 3: $1281.5 Jun 14 high
*RES 2: $1274.6 Jun 6 low, 76.4% Fibo of $1296.1-$1204.8
*RES 1: $1271.3 Jul 28 high
*PRICE: $1267.3 @0938GMT
*SUP 1: $1254.5 Hourly support
*SUP 2: $1251.9 Initial rally high Jul 26, now support
*SUP 3: $1243.9 Jul 26 low
*SUP 4: $1235.4 Jul 20 low
*COMMENTARY* The move back up the 5 month range continued last week, with the
recent move through both the June highs at $1258.9 and also the 61.8% Fibo
retrace level at $1261.2. Last Thursday's $1265.5 high now breached but $1271.3
and then the 76.4% Fibo retrace level at $1274.6 currently look more worthy
targets. In the interim, support also on the rise, $1254.5 initially and then
more importantly in the near term from $1251.9.

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