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Up Trendline Support Under Pressure......>

GOLD TECHS
GOLD TECHS: Up Trendline Support Under Pressure
*RES 4: $1326.0 - High May 11 
*RES 3: $1300.0 - Pivot area 
*RES 2: $1265.6 - 200-dma 
*RES 1: $1243.5 - High Oct 26 
*PRICE: $1204.4 @ 05:55 GMT 
*SUP 1: $1200.2 - Low Nov 12, up trendline support from Aug lows
*SUP 2: $1180.9 - Sep 28 
*SUP 3: $1160.4 - Low Aug 16 
*SUP 4: $1122.9 - Dec 15, 2016 
Despite breaking below the 55-dma yesterday gold managed to hold above $1200 as
well as up trendline support from the Aug 16 lows. Bearish momentum continues to
build however and a loss of this level would shift the focus back down to the
ytd lows at $1160.4. On the upside, bulls would need to see a break above the
Oct 26 high at $1243.5 to trigger renewed upside momentum and target the 200-dma
at $1265.6.

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