Free Trial

$1800.0 Remains Exposed

GOLD TECHS
  • RES 4: $1965.6 - High Nov 9 and the bull trigger
  • RES 3: $1899.2 - High Nov 16
  • RES 2: $1864.0 - 20-day EMA
  • RES 1: $1848.8 Low Sep 28 and recent breakout level
  • PRICE: $1808.8 @ 07:11 GMT Nov 27
  • SUP 1: $1800.5 - Low Nov 24
  • SUP 2: $1795.0 - Low Jul 16
  • SUP 3: $1790.8 - Low Jul 14
  • SUP 4: $1763.5 - 50.0% retracement of the Mar - Aug rally

Gold is unchanged and remains weak following this week's breach of $1848.0, Sep 28 low and the recent bear trigger. The break lower confirms a resumption of the bearish cycle that has been in place since Aug 7 and sets the scene for weakness below the $1800.00 level to open a Fibonacci retracement at $1763.5. MA studies are in a bear mode, reinforcing current conditions. The breakout level of $1848.0 marks initial resistance.

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.