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MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

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MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

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GERMANY FINAL JUNE MANUFACTURING PMI 43.5 (43.4 FLASH; 45.4 MAY)

FRANCE FINAL JUNE MANUFACTURING PMI 45.4 (45.3 FLASH; 46.4 MAY)

ITALY JUNE MANUFACTURING PMI 45.7 (44.3 F'CAST; 45.6 MAY)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Bullish Conditions Intact

GOLD TECHS
  • RES 4: $2177.6 - 1.236 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 3: $2135.4 - High Dec 4 and all-time high
  • RES 2: $2097.1 - 76.4% retracement of the Dec 4 - 13 bear leg
  • RES 1: $2088.5 - High Dec 28
  • PRICE: $2074.1 @ 07:08 GMT Dec 29
  • SUP 1: $2034.6 - 20-day EMA
  • SUP 2: $1973.2 - Low Dec 13
  • SUP 3: $1931.7 - Low Nov 13 and key support
  • SUP 4: $1908.3 - Low Oct 16

The Dec 13 reversal in Gold and the subsequent move higher points to the end of the Dec 4 - 13 corrective pullback. This week’s move highlights a bullish theme and note that moving average studies are in a bull-mode position too, reflecting an uptrend. A continuation higher has opened $2097.1, 76.4% of the Dec 4 - 13 bear leg, ahead of key resistance and the Dec 4 all-time high of $2135.4. Key support lies at $1973.2, the Dec 13 low.

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