Free Trial

Defying Gravity *RES 4: $1888.6 -........>

GOLD TECHS
GOLD TECHS: Defying Gravity
*RES 4: $1888.6 - 2.500 projection of the Jun 5 - 11 rally from Jun 15 low
*RES 3: $1879.9 - 2.382 projection of the Jun 5 - 11 rally from Jun 15 low
*RES 2: $1869.1 - 2.236 projection of the Jun 5 - 11 rally from Jun 15 low
*RES 1: $1865.8 - Intraday high
*PRICE: $1860.5 @ 06:58 BST Jul 22
*SUP 1: $1841.2 - Intraday low
*SUP 2: $1815.8 - Low Jul 21
*SUP 3: $1793.2 - 20-day EMA
*SUP 4: $1790.8 - Low Jul 14 and key near-term support
Gold continues to trade higher having started the week on a firm note and
underlying bullish conditions remain intact. The yellow metal has cleared
$1800.0 and recent gains have maintained the current positive price sequence of
higher highs and higher lows that defines an uptrend. Attention turns to $1869.1
next a Fibonacci projection with the metal also approaching it's all time of
$1921.2, Sep, 2011 high. Initial support is at $1841.20, today's intraday low.

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.