Free Trial

Bears Need Close Below $1289.1 *RES 4:...>

GOLD TECHS
GOLD TECHS: Bears Need Close Below $1289.1
*RES 4: $1320.0 - High Sept 18 
*RES 3: $1313.6 - High Sept 26 
*RES 2: $1306.0 - High Oct 16 
*RES 1: $1297.0 - Hourly Nov 17
*PRICE: $1291.8 @ 0235GMT
*SUP 1: $1289.1 - High Nov 15 now support 
*SUP 2: $1281.9 - Hourly support Nov 17 
*SUP 3: $1275.0 - Low Nov 16 
*SUP 4: $1269.9 - Low Nov 14
*COMMENTARY: Having found support ahead of the 200-DMA ($1264.7) in recent weeks
bulls take comfort in Friday's close above the 55-DMA ($1291.7) with focus now
having shifted to layers of resistance $1306.0-1320.0. Initial support is noted
at $1289.1 with bears needing a close below to ease bullish pressure and hint at
a correction back to $1257.6-1264.9 where the bull channel base and 200-DMA are
noted.

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.