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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.
GOLD TECHS
- Attention in gold remains on two recent candle patterns that highlight a developing bearish threat.
- The sell-off on Aug 19 signals the likely end of the correction between Aug 12 - 18.
- In pattern terms, the Aug 19 sell-off is a bearish engulfing candle.
- This pattern also reinforces a bearish candle pattern on Aug 11. The sharp sell-off on this day confirmed what appears to be a standard line. This is a continuation pattern and suggests market sentiment is bearish.
- Note that the high of the standard line, $2030.0 remains intact.
- These patterns suggest the yellow metal remains vulnerable and is likely near-term to test the $1863.15 key support, Aug 12 low.
- Key resistance levels to watch are
- $2015.7, Aug 18 high and
- $2030.0, Aug 11 high.
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.
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