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Trendline Support Holds *RES 4:..........>

GOLD TECHS
GOLD TECHS: Trendline Support Holds
*RES 4: $1671.3 - High Mar 11
*RES 3: $1650.4 - High Mar 12
*RES 2: $1627.4 - 50.0% retracement of the Mar 9 - Mar 13 sell-off
*RES 1: $1609.5 - 38.2% retracement of the Mar 9 - Mar 13 sell-off
*PRICE: $1589.2 @ 06:38 GMT Mar 13
*SUP 1: $1551.5 - Intraday low
*SUP 1: $1549.0 - Trendline support drawn off the May 30, 2019 low
*SUP 3: $1536.0 - Jan 14 low
*SUP 4: $1500.0 - Psychological round number
Gold faced selling pressure again yesterday. The metal is off the overnight lows
today though and has found support ahead of $1549.0. This is an important
trendline drawn off the May 30, 2019 low. Yesterday, price cleared the 50-day
EMA. If gold is able to hold above the trendline and also stabilise back above
the 50-day EMA, today at $1590.8, this would point towards a potential base. A
breach of the trendline opens $1536.0 and the psychological $1500.0 level.

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