Free Trial

Bulls Still Need Close Above $1297.0.....>

GOLD TECHS
GOLD TECHS: Bulls Still Need Close Above $1297.0
*RES 4: $1320.0 - High Sept 18 
*RES 3: $1313.6 - High Sept 26 
*RES 2: $1306.0 - High Oct 16 
*RES 1: $1297.0 - Hourly Nov 17
*PRICE: $1289.5 @ 0230GMT
*SUP 1: $1285.8 - Low Nov 24 
*SUP 2: $1279.0 - Low Nov 22 
*SUP 3: $1274.9 - Low Nov 20 
*SUP 4: $1269.9 - Low Nov 14
*COMMENTARY: Bulls took comfort in the bounce from $1274.9 returning pressure to
$1297.0. Bulls continue to look for a close above $1297.0 to confirm traction
above the 55-DMA ($1286.8) and focus on $1306.0-1320.0. Bears now need a close
below $1285.8 to ease pressure on $1297.0 and below $1274.9 to shift pressure
back to $1260.2-1265.7 where the bull channel base and 200-DMA 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.