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Remains Below Tuesday's High *RES 4:.....>

GOLD TECHS
GOLD TECHS: Remains Below Tuesday's High
*RES 4: $1600.0 - Round number resistance
*RES 3: $1582.6 - 61.8% retracement of the Jan 8 - Jan 14 decline
*RES 2: $1573.7 - 50.0% retracement of the Jan 8 - Jan 14 decline
*RES 1: $1568.7 - High Jan 21
*PRICE: $1560.9 @ 07:49 GMT Jan 24
*SUP 1: $1546.0 - Low Jan15
*SUP 2: $1536.0 - Low Jan 14 and bear trigger
*SUP 3: $1528.6 - 50% retracement of the Nov 12 - Jan 8 rally
*SUP 4: $1517.3 - Low Jan 2
Gold is unchanged and trading in a somewhat choppy manner. The yellow metal
failed to hold onto Tuesday's $1568.7 high. This has left two important
resistance levels untouched and in place. $1573.7 and 1582.6 mark the 50% and
61.8% retracements of the Jan 8 - Jan 14 sell-off. While they remain in place,
recent gains are most likely corrective and the outlook remains bearish.
Attention is on support at $1546.0, Jan 15 low. A break would open $1536.0.
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