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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.
GOLD TECHS
- RES 4: $1805.7 - High Feb 25
- RES 3: $1760.7/75.9 - Low Feb 19 / High Feb 26
- RES 2: $1753.2 - 20-day EMA
- RES 1: $1740.7 - Low Mar 4
- PRICE: $1732.2 @ 07:07 GMT Mar 11
- SUP 1: $1676.9 - Low Mar 8 and the bear trigger
- SUP 2: $1671.0 - Low Jun 5, 2020
- SUP 3: $1659.6 - Low Apr 21, 2020
- SUP 4: $1640.9 - Low Apr 8, 2020
Gold remains in a clear downtrend however Tuesday's price action suggests the yellow metal may have found a base. In pattern terms, the pattern is a bullish engulfing candle. If correct, it signals scope for a short-term correction that would allow the current oversold momentum reading to unwind. Key support has been defined at $1676.9, Monday's low. A climb would open the 20-day EMA at $1753.2. A break of $1676.9 resumes the downtrend instead.
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.
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