Free Trial

50-DMA The Target *RES 4: $1346.8 -......>

GOLD TECHS
GOLD TECHS: 50-DMA The Target
*RES 4: $1346.8 - High Feb 20
*RES 3: $1324.6 - High Mar 25 
*RES 2: $1312.3 - High Mar 28/downtrend support from Feb highs 
*RES 1: $1307.6 - 50-dma 
*PRICE: $1302.3 @ 06:17 GMT Apr 10 
*SUP 1: $1281.0/1280.9 - Low Apr 3/Low March 7 
*SUP 2: $1276.8 - Low Jan 21/38.2% retracement 
*SUP 3: $1253.6 - 50% retracement 
*SUP 4: $1249.6 - 200-dma 
Gold posted new recovery highs yesterday and remains above $1300 despite some
profit taking. The next upside target is the 50-dma at $1307.6 with a break
needed to open the the March 28 high and downtrend support at $1312.3. Bears
look for a close below the $1281.0/1280.9 April 3/March 7 lows to suggest
further downside to the Low Jan 21/38.2% retracement at $1281.0/1280.9.

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.