Free Trial

Bears Need Close Below $1277.6 *RES 4:...>

GOLD TECHS
GOLD TECHS: Bears Need Close Below $1277.6
*RES 4: $1307.9 - Bollinger band top 
*RES 3: $1306.0 - High Oct 16 
*RES 2: $1298.3 - Alternating hourly support/resistance 
*RES 1: $1290.8 - Hourly resistance Oct 17
*PRICE: $1280.0 @ 0930GMT
*SUP 1: $1277.6 - Hourly resistance Oct 6 now support 
*SUP 2: $1275.7 - 100-DMA 
*SUP 3: $1270.7 - Hourly support Oct 6 
*SUP 4: $1266.3 - Hourly resistance Oct 6 now support
*COMMENTARY: Bulls have so far failed to gain traction above 21 & 55 ($1286.9 &
1296.6) DMAs with the sell-off continuing to work through support layers. The
$1277.6 support remains key with a close below needed to shift bearish focus
back to $1244.8-1260.5 where the 200-DMA ($1257.7) and bull channel base are
situated. Bulls now need a close above $1298.3 to retain focus on
$1306.0-1320.0.

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.