MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bearish Signals Intact

GOLD TECHS
  • RES 4: $1973.6 - High Sep 16 and a key near-term resistance
  • RES 3: $1955.7 - High Sep 21
  • RES 2: $1908.3 - 50-day EMA
  • RES 1: $1905.4 - High Sep 23
  • PRICE: $1893.1 @ 06:56 BST Oct 1
  • SUP 1: $1848.9 - High Sep 24 and the bear trigger
  • SUP 2: $1841.2 - Low Jul 22
  • SUP 3: $1837.1 - 38.2% retracement of the Mar - Aug uptrend
  • SUP 4: $1818.0 - High Jul 8

Gold is unchanged having corrected higher this week. A bearish theme holds though. The metal recently cleared $1906.7, Sep 8 low and $1902.9, Aug 26 low. The break lower signalled the end of the period of consolidation that has dominated recent activity. Last week's key development was the break of primary support at $1863.2, Aug 12 low, confirming a stronger reversal and opening $1841.2 next, Jul 22 low. Resistance is seen at $1905.4.

Energy BulletsCommodities
Energy BulletsCommodities

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.