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Pullback Considered Corrective


Corrective Cycle


Corrective Bounce


Short-Term Trend Needle Points South

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Still consolidating *RES 4: $1557.3 -....>

GOLD TECHS: Still consolidating
*RES 4: $1557.3 - High Sep 4 and key resistance
*RES 3: $1528.3 - High Sep 6
*RES 2: $1524.3 - High Sep 12
*RES 1: $1512.3 - High Sep 16
*PRICE: $1495.3 @ 07:32 BST Sep 19
*SUP 1: $1483.0 - Low Sep 18 and key bear trigger
*SUP 2: $1479.7 - Low Aug 13
*SUP 3: $1471.4 - Low Aug 7
*SUP 4: $1453.1 - High Jul 19
Gold was volatile yesterday post Fed and did trade below key support at $1484.6,
Sep 10 low. There hasn't been any follow through however and the yellow metal is
trading back within its recent range. A clear breach of yesterday's $1483.0 low
would confirm an important technical break. This would see key trendline support
drawn off the May 30 low breached and also highlight a trend reversal. On the
upside, $1524.3 remains the key resistance.

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