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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
- RES 4: $1875 7 - 50.0% retracement of the Mar 8 - Jul 21 bear leg
- RES 3: $1857.6 - High Jun 16
- RES 2: $1829.8 - 38.2% retracement of the Mar 8 - Jul 21 bear leg
- RES 1: $1807.9 - Intraday high
- PRICE: $1799.2 @ 13:56 BST Aug 10
- SUP 1: $1762.8/54.4 - 20-day EMA / Low Aug 3
- SUP 2: $1711.7/1681.0 - Low Jul 27 / 21
- SUP 3: $1680.5 - 1.764 proj of the Mar 8 - 29 - Apr 18 price swing
- SUP 4: $1676.9 - Low Mar 8 2021
Gold maintains a firmer tone and is trading higher today. The yellow metal has cleared trendline resistance at $1794.6. The trendline is drawn from the Mar 8 high and the break represents an important technical breach plus highlights a stronger reversal of the 5-month downtrend. This signals scope for a climb towards $1829.8, a Fibonacci retracement. On the downside, initial firm support lies at $1754.4 the Aug 3 low.
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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