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Uptrend extends *RES 4: $1587.0 -........>

GOLD TECHS
GOLD TECHS: Uptrend extends
*RES 4: $1587.0 - 61.8% retracement of the 2011 to 2015 decline
*RES 3: $1527.0 - Low May 2012
*RES 2: $1522.8 - Low December 2011
*RES 1: $1520.2 - High Aug 12
*PRICE: $1519.8 @ 06:54 BST Aug 13
*SUP 1: $1487.4 - Low Aug 12
*SUP 2: $1471.4 - Low Aug 7
*SUP 3: $1453.1 - High Jul 19
*SUP 4: $1422.8 - Trendline support drawn off the May 30 low
Gold continues to grind higher. Yesterday saw the yellow metal break above
$1510.50 to confirm once again, a resumption of the uptrend. This opens the
December 2011 lows at $1522.8 ahead of the May 2012 low of $1527.0. The focus is
also on $1587.0 the 61.8% retracement of the 2011 to 2015 decline further out.
Initial support lies at $1487.4, where a break is required to halt the rally for
now and allow for a correction.

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