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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play

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GOLD TECHS: Still Trading Within Its Triangle
*RES 4: $1747.4 - High Apr 15 and bull trigger
*RES 3: $1739.3 - High Apr 27
*RES 2: $1729.1 - High Apr 30
*RES 1: $1723.1 - High May 8
*PRICE: $1713.8 @ 06:50 BST May 14
*SUP 1: $1692.0 - Low May 11
*SUP 2: $1676.8 - Low May 7
*SUP 3: $1670.7 - Low May 1
*SUP 4: $1663.9 - 50-day EMA
Gold traded higher yesterday having held above support at $1676.8, May 7 low.
Note, the yellow metal also continues to trade within a triangle formation that
has developed on the daily chart. This is a bullish pattern and reinforces the
current uptrend suggesting an eventual break to the upside. Attention is on
$1739.3, Apr 23 high and the bull trigger at $1747.4, Apr 14 high. A break of
$1723.1, May 8 high would signal a triangle break. Initial support is $1692.0.

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