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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI Gilt Week Ahead: Triple issuance week?
MNI US MARKETS ANALYSIS - French Politics Undermines EUR
MNI US OPEN - Trump Warns BRICS Over Moving Away From USD
Bearish Cycle Confirmed
- RES 4: $1927.7 - High Jan 7
- RES 3: $1903.8/16.6 - High Jun 8 / High Jun 1 and the bull trigger
- RES 2: $1877.7 - High Jun 14
- RES 1: $1863.3 - High Jun 16
- PRICE: $1813.6 07:11 BST Jun 17
- SUP 1: $1803.9 - Low Jun 16
- SUP 2: $1796.8 - 50% retracement of the MAr 8 - Jun 1 rally
- SUP 3: $1768.5 - 61.8% retracement of the MAr 8 - Jun 1 rally
- SUP 4: $1756.2 - Low Apr 29
Gold traded sharply lower yesterday reinforcing the current bearish cycle. The break lower has resulted in a clear breach of the 50-day EMA signalling scope for a deeper pullback towards $1796.8 next, a Fibonacci retracement. On the upside, yesterday's high of $1863.3, Jun 16 high marks initial resistance. A break would ease the current bearish pressure. Key trend resistance has been defined at $1916.6, Jun 1 high.
To read the full story
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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.