Free Trial

21-DMA Now Capping, Bounces From Key.....>

GOLD TECHS: 21-DMA Now Capping, Bounces From Key Support
*RES 4: $1351.3 - High Feb 19 
*RES 3: $1344.7 - Low Feb 16 now resistance 
*RES 2: $1340.7 - High Feb 26 
*RES 1: $1329.5 - 21-DMA
*PRICE: $1322.7 @ 0430GMT
*SUP 1: $1319.5 - Hourly support Mar 9 
*SUP 2: $1312.9 - Hourly resistance Mar 1 now support 
*SUP 3: $1302.5 - Low Jan 2 
*SUP 4: $1302.4 - 100-DMA
*COMMENTARY: Bulls take comfort in the bounce from $1312.9 that sees pressure
back on the 21-DMA. Bulls now look for a close above the 21-DMA to gain
breathing room whereas a close above $1351.3 remains needed to initially focus
on $1367.3-1374.9 where 2016 highs are noted. Bears need a close below $1312.9
to confirm a return in focus to $1288.7-1302.5 where 100 & 200-DMAs are
situated. Daily studies are well placed for gains.

To read the full story



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.