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Gold caught in bullish momentum
After smashing through the $1070 support level on Friday, gold price has steadied. However, bearish momentum is still strong, so we look to support around $1045, last seen in February of 2010.
Intraday support is possible around $1055 and then $1049, with a move through $1060 providing some bullish momentum. However, with the downtrend so strong it looks like any bounce back towards $1070 will bring out fresh sellers.