Free Trial

Below $1267.5 To Shift Focus Lower.......>

GOLD TECHS
GOLD TECHS: Below $1267.5 To Shift Focus Lower
*RES 4: $1306.6 - Daily Bull channel top 
*RES 3: $1300.8 - 2017 High Aug 18 
*RES 2: $1294.9 - Bollinger band top 
*RES 1: $1292.0 - Alternating hourly support/resistance
*PRICE: $1286.1 @ 0430GMT
*SUP 1: $1280.6 - Hourly support Aug 21 
*SUP 2: $1277.7 - Alternating hourly support/resistance 
*SUP 3: $1272.2 - Daily Bull channel base 
*SUP 4: $1270.5 - 21-DMA
*COMMENTARY: Fresh 2017 and 10mth highs Friday lacked follow through with gold
looking a little heavy to end the week. The Bollinger band top continues to
limit follow through and remains a concern for bulls. Initial resistance is
noted at $1292.0 with bulls needing a close above to gain breathing room and
retain focus on $1306.6-1337.4. Bears need a close below $1277.7 to ease bullish
pressure and return initial focus to $1267.5-1272.2.

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.