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Free AccessBearish Break *RES 4: $1360.0 -..........>
GOLD TECHS: Bearish Break
*RES 4: $1360.0 - Downtrend resistance from July 11 high
*RES 3: $1356.0 - Channel top
*RES 2: $1346.8 - High Feb 20
*RES 1: $1330.0 - High Feb 27
*PRICE: $1318.4 @ 06:15 GMT Feb 28
*SUP 1: $1302.5 - Low Feb 14
*SUP 2: $1300.5 - 50-dma
*SUP 3: $1298.6 - High Jan 4, now support
*SUP 4: $1276.8 - Low Jan 21
Gold broke below its 21-dma yesterday which puts the focus on the Feb 14 low at
$1302.5 and the 50-dma, below which would suggest a deeper pullback towards the
Jan 4 high at $1298.6 and the Jan 21 low at $1276.8. Bulls need to recover
yesterday's high at $1330.0 to shift the near term outlook neutral while a break
above the Feb 20 high at $1346.8 would reignite upside momentum. Above here
would bring the channel top into play.
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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.