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Still Above Weekly/Monthly Trend.........>

GOLD TECHS
GOLD TECHS: Still Above Weekly/Monthly Trend Channels - Corrected Res/Sup table
*RES 4: $1571.9 - 200% retracement of 2018 decline
*RES 3: $1522.8 - Low December 2011
*RES 2: $1510.5 - High Aug 8
*RES 1: $1507.1 - Upper trend channel on monthly chart
*PRICE: $1497.5 @ 08:03 BST Aug 8
*SUP 1: $1492.7/93.1 - Up trendline on weekly chart/161.8% 2018 decline
*SUP 2: $1474.0/72.4 - Upper trend channel on daily chart/ Low Aug 7
*SUP 3: $1456.5/53.1 - Low Aug 6/ Jul 19 high (previous resistance)
*SUP 4: $1430.5 - Aug 2 low
Gold has moved a little off of its highs this morning after briefly breaching
the up trend channel on the monthly chart yesterday. Upside momentum looks to be
sustained but there is a risk of a little more consolidation back into the up
trend channel on the weekly chart which comes in at 1492.7. To move the outlook
more neutral, we need to see a fall back into the daily trend channel with the
top at 1474.0. Bears need to close back below the previous resistance at 1453.1.

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