Trial now
US TSY FUTURES

BLOCK, 5Y Sale

MEXICO

Q2 GDP Slightly Below Estimates

US 10YR FUTURE TECHS

(U1)‌‌ In A Range

GOLD TECHS
  • RES 4: $2065.4 - 2.382 proj of Dec '19 - Mar rally from Mar 16 low
  • RES 3: $2027.7 - 2.236 proj of Dec '19 - Mar rally from Mar 16 low
  • RES 2: $2000.0 - Psychological round number
  • RES 1: $1983.4 - High Jul 31 and all-time high
  • PRICE: $1975.5 @ 07:17 BST Aug 3
  • SUP 1: $1939.4 - Low Jul 30
  • SUP 2: $1907.0/1899.9 - Low Jul 28 / Low Jul 27
  • SUP 3: $1864.0 - 20-day EMA
  • SUP 4: $1841.2 - Low Jul 22

Despite recent volatility Gold remains bullish. Last week, the yellow metal traded a new all time high of $1983.4. The strong impulsive bull run continues to dominate despite being overbought and looks set to extend the current rally. The focus is on the psychological $2000.0 level. We are closely monitoring the current overbought reading and any signs of a top. Initial key support is at $1907.0

MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com