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- RES 4: $1877.2/1900.5 High Nov 16 / Bull channel top
- RES 3: $1849.1 - High Nov 22
- RES 2: $1830.0 - 61.8% retracement of the Nov 16 - Dec 15 downleg
- RES 1: $1820.3 - High Dec 28/31
- PRICE: $1819.6 @ 11:31 GMT Dec 31
- SUP 1: $1784.9/1773.9 - Low Dec 21 / Channel base from Aug 9 low
- SUP 2: $1753.7 - Low Dec 15 and a key support
- SUP 3: $1746.0 - Oct 6 low
- SUP 4: $1721.7 - Low Sep 29
Gold maintains a bullish focus and is approaching recent highs. The yellow metal is still showing signs of base building following the recent false break of the channel base drawn from the Aug 9 low. Attention is on $1820.3, the Dec 29/31 high. A break would strengthen the bullish theme and suggest scope for a move higher near term. This would open $1830.0, a Fibonacci retracement. Initial firm support to watch is at $1773.9, the channel base.
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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.