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Retains A Bullish Outlook *RES 4:........>

GOLD TECHS
GOLD TECHS: Retains A Bullish Outlook
*RES 4: $1554.1 - High Sep 5
*RES 3: $1535.7 - High Sep 24
*RES 2: $1530.8 - 76.4% retracement of the Sep 4 - Nov 12 decline
*RES 1: $1525.4 - High Dec 31
*PRICE: $1520.8 @ 07:00 GMT Jan 2
*SUP 1: $1497.6 - Low Dec 26
*SUP 2: $1484.7 - Low Dec 24
*SUP 3: $1473.2 - Former channel top drawn off the Sep 14 high
*SUP 4: $1470.5 - Low Dec 18
Gold remains bullish. The yellow metal recently traded through key resistance at
$1481.00. This marked the top of the bear channel drawn off the Sep 14 high. The
move represents an important technical break and was reinforced by the
subsequent breach of resistance at 1486.8, Dec 12 high. Furthermore, price has
also cleared the former key resistance at $1519.7, Oct 3 high. This opens
$1535.7 next, Sep 24 high. Initial support is at $1497.6.

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