Free Trial

Back Below $1200 *RES 4: $1266.0 -.......>

GOLD TECHS
GOLD TECHS: Back Below $1200
*RES 4: $1266.0 - High July 9 
*RES 3: $1235.2 - High July 26 
*RES 2: $1214.4 - High Aug 28 
*RES 1: $1214.1 - 55-DMA 
*PRICE: $1194.5 @ 06:29 GMT 
*SUP 1: $1183.2 - Low Aug 24 
*SUP 2: $1160.4 - Low Aug 16 
*SUP 3: $1150.0 - Support 
*SUP 4: $1122.9 - Low December 15 2017 
The false break above down trendline resistance last Thursday has triggered a
drop back below the $1200 level, keeping the broad downtrend intact. Bulls need
to overcome the 55-dma and Aug 28 high at $1214.1/4 to shift the outlook
bullish. A break above these levels would strongly suggest a bullish reversal is
in play. Bears need a push back below the Aug 24 low at $1183.2 which is the
last line of defense before the Aug 16 low at $1160.4.

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.