Free Trial

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.

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.