Free Trial

Bullish Above 21-DMA *RES 4: $1388.0 -...>

GOLD TECHS
GOLD TECHS: Bullish Above 21-DMA
*RES 4: $1388.0 - High Mar 14, 2014 
*RES 3: $1365.2 - High April 11 
*RES 2: $1360.0 - Downtrend resistance from July 11 high 
*RES 1: $1346.8 - High Feb 20, channel top 
*PRICE: $1328.0 @ 05:28 GMT Feb 26 
*SUP 1: $1321.6/1320.1 - Low Feb 22/21-dma 
*SUP 2: $1302.5 - Low Feb 14 
*SUP 3: $1298.6 - High Jan 4, now support 
*SUP 4: $1276.8 - Low Jan 21 
Gold continues to trade in a tight range within a broader bullish trend
supported by the 21-dma which comes in at $1320.1. Bulls target the Feb 20 high
and channel top at $1346.8, above here would bring down trendline resistance
from the July 11 high into play at $1360.0. To shift the outlook negative bears
would need to break below the Feb 14 low at $1302.5 and 21-dma which would
suggest a deeper pullback towards the Jan 21 low at $1276.8.

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.