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The resistance is the 23.6 percent Fibonacci retracement on the fall from $1,802.60 to $1,521.94, providing support to a possible retracement from the current level. Most likely, the metal will first retrace to $1,588 and climb up within a rising channel towards $1,629. A drop to $1,580 will violate the channel and open the way to $1,560. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.