Free Trial

Bullish Them Intact *RES 4: $1639.2 -....>

GOLD TECHS
GOLD TECHS: Bullish Them Intact
*RES 4: $1639.2 - 2.00 projection of Aug '18 - Feb '19 rally from May '19 low
*RES 3: $1600.0 - Round number resistance
*RES 2: $1595.2 - 1.764 projection of Aug '18 - Feb '19 rally from May '19 low
*RES 1: $1588.1 - High Jan 5
*PRICE: $1564.7 @ 06:59 GMT Jan 7
*SUP 1: $1553.5 - High Jan 3
*SUP 2: $1528.1 - Low Jan 3
*SUP 3: $1414.8 - Low Dec 31
*SUP 4: $1497.6 - Low Dec 26
Gold remains bullish despite yesterday's pullback off the day high of $1588.1.
The bullish technical theme follows the recent break of channel resistance on
Dec 23 and the subsequent impulsive drive higher. Price action yesterday cleared
an important resistance at $1557.1, Sep 4 high. This is a significant break, it
confirms a resumption of the bull trend that started in Sep 2018 opening $1600.0
next. Initial support is at $1557.1.

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.