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Approaching The All-Time High

GOLD TECHS
  • RES 4: $2206.6 - 1.382 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 3: $2177.6 - 1.236 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 2: $2135.4 - High Dec 4 and all-time high
  • RES 1: $2120.0 - High Mar 4
  • PRICE: $2114.6 @ 07:16 GMT Mar 5
  • SUP 1: $2065.5 - High Feb 1 and a recent breakout level
  • SUP 2: $2040.5/2029.2 - 20- and 50-day EMA values
  • SUP 3: $1984.3 Low Feb 14
  • SUP 4: $1973.2 - Low Dec 13 and key support

Gold traded sharply higher Friday, extending the recovery that started Feb 14. The yellow metal has also started this week on a firm note and price rallied yesterday. Resistance at $2065.5, Feb 1 high, has been cleared. Note too that Gold has also cleared $2088.5, the Dec 28 high, and $2097.1, 76.4% of the Dec 4 - 13 bear leg. Sights are on 2135.4, the Dec 4 all-time high. Initial firm support to watch lies at $2029.2, the 50-day EMA.

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  • RES 4: $2206.6 - 1.382 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 3: $2177.6 - 1.236 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 2: $2135.4 - High Dec 4 and all-time high
  • RES 1: $2120.0 - High Mar 4
  • PRICE: $2114.6 @ 07:16 GMT Mar 5
  • SUP 1: $2065.5 - High Feb 1 and a recent breakout level
  • SUP 2: $2040.5/2029.2 - 20- and 50-day EMA values
  • SUP 3: $1984.3 Low Feb 14
  • SUP 4: $1973.2 - Low Dec 13 and key support

Gold traded sharply higher Friday, extending the recovery that started Feb 14. The yellow metal has also started this week on a firm note and price rallied yesterday. Resistance at $2065.5, Feb 1 high, has been cleared. Note too that Gold has also cleared $2088.5, the Dec 28 high, and $2097.1, 76.4% of the Dec 4 - 13 bear leg. Sights are on 2135.4, the Dec 4 all-time high. Initial firm support to watch lies at $2029.2, the 50-day EMA.