Free Trial

$1312.9 & $1330.0 Levels Key Today.......>

GOLD TECHS
GOLD TECHS: $1312.9 & $1330.0 Levels Key Today
*RES 4: $1344.7 - Low Feb 16 now resistance 
*RES 3: $1340.7 - High Feb 26 
*RES 2: $1330.0 - High Mar 14 
*RES 1: $1321.5 - Low Mar 14 now resistance
*PRICE: $1316.4 @ 0530GMT
*SUP 1: $1312.9 - Hourly resistance Mar 1 now support 
*SUP 2: $1304.3 - 100-DMA 
*SUP 3: $1302.5 - Low Jan 2 
*SUP 4: $1289.6 - 200-DMA
*COMMENTARY: Despite pressuring the 21-DMA ($1325.9) bulls failed to gain
traction above with pressure returning to $1312.9. Bears look for a close below
$1312.9 to return focus to $1289.6-1304.3 where 100 & 200-DMAs are situated.
Bulls still need a close above $1330.0 to confirm a break of the 21-DMA and gain
breathing room whereas a close above $1351.3 remains needed to initially focus
on $1367.3-1374.9 where 2016 highs are noted.

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.