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Watching Support At The 20-Day EMA

GOLD TECHS
  • RES 4: $2075.5 - All-Time High Aug 7 2020
  • RES 3: $2070.4 - High Mar 8 and a key resistance
  • RES 2: $2059.2 - High Mar 9 2022
  • RES 1: $2048.7 - High Apr 5
  • PRICE: $1999.7 @ 07:15 BST Apr 18
  • SUP 1: $1981.3 - Low Apr 17
  • SUP 2: $1949.7 - Low Apr 3
  • SUP 3: $1933.4 - 50-day EMA
  • SUP 4: $1885.8 - Low Mar 15

Trend conditions in Gold remain bullish and the latest pullback is considered corrective. Support to watch is $1982.3, the 20-day EMA. It has been pierced - a clear break would suggest scope for a deeper retracement and expose $1949.7, Apr 3 low. On the upside, the short-term bull trigger has been defined at $2048.7, Apr 13 high. A break would resume the uptrend and open $2070.4, Mar 8 2022 high. This is just ahead of the all-time high of $2075.5.

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