Free Trial

Correction Gathering Momentum *RES 4:....>

GOLD TECHS
GOLD TECHS: Correction Gathering Momentum
*RES 4: $1357.5 - 2017 High Sept 8 
*RES 3: $1350.5 - Hourly support Sept 8 now resistance 
*RES 2: $1342.1 - Hourly support Sept 8 now resistance A 
*RES 1: $1331.4 - Low Sept 7 now resistance
*PRICE: $1324.9 @ 0430GMT
*SUP 1: $1313.7 - High Aug 30 now support 
*SUP 2: $1309.3 - 21-DMA 
*SUP 3: $1304.9 - Hourly support Aug 31 
*SUP 4: $1298.4 - Low Aug 31
*COMMENTARY: Fresh 2017 and 12mth highs lacked follow through Friday with bears
taking comfort in the gapping move lower Monday that eased bullish pressure and
hints at a correction back to $1294.6-1313.7 where the 21-DMA is located. Bulls
now look for a close above $1342.1 to ease renewed bearish pressure and
reconfirm focus on $1375.1 2016 highs. Daily studies are well placed for a
correction lower.

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.