MNI BRIEF: EU Will Prioritise Local Firms In Rearming - VDL

MNI: Canada CPI Rise Is Broader Than End Of Sales Tax Break

test headline

MNI China Daily Summary: Tuesday, March 18

MNI BRIEF: China Electricity Demand Up In February

MNI BRIEF: Beijing Industrial Value Added Up In Jan Feb

EZ/UK T-Bill Calendar: Portugal, EU Auction on Wednesday

EZ/UK Bond Supply Calendar: 30-Year Bunds On Offer Wednesday

MNI: US FEB INDUSTRIAL PROD +0.7%; CAP UTIL 78.2%

GERMANY: Handelsblatt Report on Lingering Uncertainties Ahead of Bundestag

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GOLD TECHS: Corrective Phase Remains In Play

GOLD TECHS
Metals Technical AnalysisCommodities TechBulletMarketsForeign Exchange BulletsCommodities
  • RES 4: $3000.0 - Psychological round number   
  • RES 3: $2976.8 - 2.0% 10-dma envelope
  • RES 2: $2962.2 - 2.00 proj of the Nov 14 - Dec 12 - 19 price swing
  • RES 1: $2920.8/2956.2 - High Feb 27 / 24 and the bull trigger 
  • PRICE: $2862.9 @ 07:20 GMT Mar 3 
  • SUP 1: $2832.7 - Low Feb 28  
  • SUP 2: $2804.6 - 50-day EMA
  • SUP 3: $2758.3 - Low Jan 30
  • SUP 4: $2730.6 - Low Jan 27 

A corrective phase in Gold remains in play and the yellow metal traded lower last week. Price has breached the 20-day EMA, at $2879.8. This signals scope for a deeper short-term retracement, possibly towards the next important support around the 50-day EMA, at $2804.6. For bulls, a resumption of gains would refocus attention on the next objective at $2962.2, a Fibonacci projection. This would also open the $3000.0 handle.

143 words

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.
  • RES 4: $3000.0 - Psychological round number   
  • RES 3: $2976.8 - 2.0% 10-dma envelope
  • RES 2: $2962.2 - 2.00 proj of the Nov 14 - Dec 12 - 19 price swing
  • RES 1: $2920.8/2956.2 - High Feb 27 / 24 and the bull trigger 
  • PRICE: $2862.9 @ 07:20 GMT Mar 3 
  • SUP 1: $2832.7 - Low Feb 28  
  • SUP 2: $2804.6 - 50-day EMA
  • SUP 3: $2758.3 - Low Jan 30
  • SUP 4: $2730.6 - Low Jan 27 

A corrective phase in Gold remains in play and the yellow metal traded lower last week. Price has breached the 20-day EMA, at $2879.8. This signals scope for a deeper short-term retracement, possibly towards the next important support around the 50-day EMA, at $2804.6. For bulls, a resumption of gains would refocus attention on the next objective at $2962.2, a Fibonacci projection. This would also open the $3000.0 handle.