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Uptrend Resumes

GOLD TECHS
  • RES 4: $1959.4 - High Jan 6 and key resistance
  • RES 3: $1927.7 - High Jan 7
  • RES 2: $1917.6 - High Jan 8
  • RES 1: $1907.9 - Intraday high
  • PRICE: $1901.8 @ 07:19 BST May 26
  • SUP 1: $1872.8/52.3 - Low May 25 / Low May 19
  • SUP 2: $1808.9 - Low May 13
  • SUP 3: $1805.9 - 50-day EMA
  • SUP 4: $1764.3 - Low Apr 30

Gold bulls remain in charge and the yellow metal has traded higher. This confirms a resumption of the underlying uptrend as the bullish price sequence of higher highs and higher lows extends. Price has cleared $1892.7, the 76.4% retracement of the Jan 6 - Mar 8 sell-off. This signals scope for a climb towards $1917.6, high Jan 8 while further out, attention is on $1959.4, Jan 6 high and key resistance. Initial firm support is $1852.3.

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