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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.
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Free AccessMNI China Daily Summary: Friday, December 13
MNI US OPEN - UK Economy Contracts for Second Straight Month
$1519.8 Is Pivotal Resistance *RES 4:....>
GOLD TECHS: $1519.8 Is Pivotal Resistance
*RES 4: $1572.2 - 1.618 projection of Oct 1 - Oct 3 rally from Oct 11 low
*RES 3: $1557.3 - Trend high Sep 4
*RES 2: $1535.8 - High Sep 24
*RES 1:$1519.8 - High Oct 3 and key near-term resistance
*PRICE: $1507.0 @ 06:54 BST Oct 28
*SUP 1: $1433.4 - Former channel resistance drawn off Sep 4 high
*SUP 2: $1480.9 - Low Oct 22
*SUP 3: $1473.9 - Low Oct 11
*SUP 4: $1459.0 - Low Oct 1 and bear trigger
Gold showed some signs of bullish life Friday, however price action is difficult
to read. The move higher Friday found resistance just ahead of $1519.8 key
resistance, Oct 3 high. The close near the low of the day is a bearish
development however, last week's channel breakout is a bullish outcome. Key will
be whether the gold is able to clear $1519.8, this would likely attract bullish
interest. A failure and move below $1473.9 would reinstate a bearish theme.
To read the full story
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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.