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Support Remains Exposed

GOLD TECHS
  • RES 4: $1909.8 - High May 5
  • RES 3: $1878.4 - High Jun 13
  • RES 2: $1876.6 - Trendline resistance drawn from the Mar 8 high
  • RES 1: $1859.9 - 50-day EMA
  • PRICE: $1824.0 @ 07:20 BST Jun 24
  • SUP 1: $1805.2 - Low Jun 14
  • SUP 2: $1787.0 - Low May 16 and bear trigger
  • SUP 3: $1780.4 - Low Jan 28 and a key support
  • SUP 4: $1753.7 - Low Dec 15 2021

Gold remains vulnerable near-term and support appears exposed. Price has recently failed to remain above the 50-day EMA and this highlights a bearish threat that also signals the potential end of the recent correction between May 16 - Jun 13. An extension lower would open the key support and bear trigger at $1787.0, May 16 low. A break would resume the downtrend. Key trendline resistance is at $1876.6.

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