MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Consolidating Ahead Of The Bull Channel Base

GOLD TECHS
  • RES 4: $1909.7 - High Jun 3
  • RES 3: $1903.8 - High Jun 8
  • RES 2: $1877.2/88.7 High Nov 16 / Bull channel top
  • RES 1: $1815.6/49.1 - High Nov 26 / High Nov 22
  • PRICE: $1785.3 @ 07:22 GMT Dec 9
  • SUP 1: $1764.7/62.0 - Bull Channel base from Aug 9 / Low Dec 2
  • SUP 2: $1759.0 - Low Nov 3
  • SUP 3: $1721.7 - Low Sep 29
  • SUP 4: $1690.6 - Low Aug 9

Gold is consolidating and remains above last week’s lows. Short-term conditions are still bearish. Price has recently breached both the 20- and the 50-day EMAs and attention is on the base of a bull channel at $1764.7 today. The channel is drawn off the Aug 9 low and represents an important support. A breakout would strengthen bearish conditions. Initial firm resistance to watch is at $1815.6, the Nov 26 high.

Energy BulletsCommodities
Energy BulletsCommodities

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.