Free Trial

Bulls Need Close Above $1344.5 *RES 4:...>

GOLD TECHS
GOLD TECHS: Bulls Need Close Above $1344.5
*RES 4: $1374.9 - 2016 High July 6 2016 
*RES 3: $1367.3 - Monthly High Aug 2 2016 
*RES 2: $1357.5 - 2017 High Sept 8 
*RES 1: $1344.5 - 2018 High Jan 15
*PRICE: $1340.6 @ 0250GMT
*SUP 1: $1331.2 - Low Jan 23 
*SUP 2: $1321.2 - Hourly support Jan 12 
*SUP 3: $1320.5 - 21-DMA 
*SUP 4: $1315.4 - Low Jan 11
*COMMENTARY: Gold was rejected ahead of recent 2018 highs last Wed with the
sell-off so far lacking follow through and bulls taking comfort in recovering
lost ground. Bulls still need a close above $1344.5 to reconfirm focus on 2017
and then 2016 highs. Layers of support remain with bears looking for a close
below $1315.4 to confirm a break of the 21-DMA and target $1289.5-1293.5 where
55 & 100-DMAs are noted.

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.