Free Trial

$1242.4-1252.7 Support Now Key *RES 4:...>

GOLD TECHS
GOLD TECHS: $1242.4-1252.7 Support Now Key
*RES 4: $1295.9 - 2017 High June 6 
*RES 3: $1280.8 - High June 14 
*RES 2: $1266.5 - High June 15 
*RES 1: $1266.0 - Bollinger band top
*PRICE: $1264.1 @ 0430GMT
*SUP 1: $1258.8 - High June 23 now support 
*SUP 2: $1252.7 - Hourly resistance July 25 now support 
*SUP 3: $1242.4 - Alternating hourly support/resistance 
*SUP 4: $1235.2 - Hourly support July 18
*COMMENTARY: Bears failed to capitalise on the dip with the gold finding support
ahead of $1242.4 and resulting in a close above the $1258.8 resistance that sees
immediate focus ton $1280.8 and overall focus on tests of 2017 highs. The
Bollinger top is the key concern and currently caps. Layers of support are
building with bears now needing a close below $1252.7 to ease bullish pressure
and below $1242.4 to shift focus lower.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.