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GOLD TECHS: SPOT GOLD: Bearish Trend Continues
*RES 4: $1235.2 - High July 26
*RES 3: $1228.6 - High July 31
*RES 2: $1227.0 - 21-DMA
*RES 1: $1220.0 - High August 3
*PRICE: $1210.3 @ 0615GMT
*SUP 1: $1206.4 - Low August 6
*SUP 2: $1204.6 - Low August 3
*SUP 3: $1195.1 - Low March 10 2017
*SUP 4: $1180.7 - Low January 21 2017
The yellow metal is showing few signs of breaking out of its longer-term
downtrend, as new lows continue to be registered. A break below the August 3 low
of $1204.6 would pave the way for a run at the March 10, 2017 lows of $11.95.1,
and likely beyond. Bulls need to regain the 21-DMA, which now comes in at
$1227.0, if they are to stage a meaningful recovery.