MNI BRIEF: Japan Nov Sentiment, Outlook Indexes Rise

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bullish Short-Term Outlook

GOLD TECHS
  • RES 4: $2059.2 - High Mar 9
  • RES 3: $2007.9 - 76.4% retracement of the Mar 8 - 29 downleg
  • RES 2: $2001.6 - 61.8% retracement of the Mar 8 - 29 downleg
  • RES 1: $1998.4 - High Apr 18
  • PRICE: $1975.5 @ 07:22 BST Apr 19
  • SUP 1: $1951.6/24.2 - 20-day EMA / 50-day EMA
  • SUP 2: $1890.2 - Low Mar 29 and a bear trigger
  • SUP 3: $1878.4 - Low Feb 24
  • SUP 4: $1848.8 - 76.4% retracement of the Jan 28 - Mar 8 rally

Gold traded higher Monday but has moved back into its recent tight range. The outlook is bullish, following the recent move above $1966.1, Mar 24 high. The breach highlighted a range breakout and suggests scope for an extension of current short-term gains. The focus is on $2001.6 next, a Fibonacci retracement. On the downside, key support has been defined at $1890.2, Mar 29 low. A break of this support would reinstate a bearish threat.

Energy BulletsCommodities
Energy BulletsCommodities

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.