Free Trial

Bulls Need Close Above 2018 High *RES....>

GOLD TECHS
GOLD TECHS: Bulls Need Close Above 2018 High
*RES 4: $1367.3 - Monthly High Aug 2 2016 
*RES 3: $1357.5 - 2017 High Sept 8 
*RES 2: $1344.5 - 2018 High Jan 15 
*RES 1: $1338.0 - High Jan 19
*PRICE: $1330.8 @ 0430GMT
*SUP 1: $1321.2 - Hourly support Jan 12 
*SUP 2: $1315.4 - Low Jan 11 
*SUP 3: $1314.1 - 21-DMA 
*SUP 4: $1305.9 - Low Jan 4
*COMMENTARY: Gold was rejected ahead of recent 2018 highs Wednesday with the
sell-off leaving it looking a little heavy following the break of $1326.6 that
hints at a correction initially targeting $1302.5-1305.6. Momentum studies have
corrected to neutral levels but other studies correcting from O/B weigh. Bulls
need a close above $1344.5 to reconfirm focus on 2017 and then 2016 highs.

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.