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Support Found Ahead Of Monthly Lows......>

GOLD TECHS
GOLD TECHS: Support Found Ahead Of Monthly Lows
*RES 4: $1324.6 - High Mar 25 
*RES 3: $1310.7 - High Apr 10 
*RES 2: $1303.4 - High May 14 
*RES 1: $1282.4 - 21-dma 
*PRICE: $1275.2 @ 01:43 GMT May 22 
*SUP 1: $1269.6 - Low May 21 
*SUP 2: $1266.3 - Low May 2 
*SUP 3: $1258.4 - 200-dma
*SUP 4: $1251.1 - High Dec 10 
Gold dipped as low as $1269.6 yesterday before stabilising but the broader
bearish trend remains intact. A break below yesterday's low would bring the key
May 2 low at $1266.3 into play. Below here would suggest further downside
towards the 200-dma at $1258.4 ahead of the Dec 10 high at $1251.1. Bulls target
the 21-dma to improve the outlook and open the May 14 high at $1303.4. Above
here would extend the rally towards the April 10 high at $1310.7.

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