Free Trial

All-Time High Intact For Now

GOLD TECHS
  • RES 4: $2119.3 - 3.382 proj of the Dec 15 - Jan 25 - 28 price swing
  • RES 3: $2104.6 - 3.236 proj of the Dec 15 - Jan 25 - 28 price swing
  • RES 2: $2075.5 - High Aug 7 2020 and the all-time high
  • RES 1: $2070.4 - High Mar 8
  • PRICE: $1983.4 @ 06:10 GMT Mar 10
  • SUP 1: $1961.2 - Low Mar 7
  • SUP 2: $1926.1 - 20-day EMA
  • SUP 3: $1901.5 - Low Mar 1
  • SUP 4: $1878.4 - Low Feb 24 and key short-term support

The all-time high print in Gold of $2075.5 on Aug 7 2020 remains intact for now following yesterday's strong sell-off. The broader trend condition remains bullish and the pullback is allowing an overbought condition to unwind. The next support is seen at $1961.2, Mar 7 low, while a firmer area of support lies at $1926.1, the 20-day EMA. On the upside, a resumption of strength would once again refocus attention on $2075.50.

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.