Free Trial

Firmer off the trendline *RES 4:.........>

GOLD TECHS
GOLD TECHS: Firmer off the trendline
*RES 4: $1590.5 - High week ending Apr 12, 2013
*RES 3: $1557.3 - High Sep 4 and key resistance
*RES 2: $1528.3 - High Sep 6
*RES 1: $1527.0 - High Sep 20
*PRICE: $1521.1 @ 07:01 BST Sep 24
*SUP 1: $1498.1 - Low Sep 20
*SUP 2: $1483.0 - Low Sep 18 and key bear trigger
*SUP 3: $1479.7 - Low Aug 13
*SUP 4: $1471.4 - Low Aug 7
Gold traded higher yesterday. The yellow metal has been unable recently to
convincingly clear trendline support drawn off the May 30 low, and the markets
attention has turned to the upside. Former key resistance at 1524.3, Sep 12 high
was breached yesterday and this opens scope for a climb towards the key bull
trigger of 1557.3, Sep 4 high. For bears, a clear breach of 1483.0 support, Sep
18 low is required to confirm both a trendline break and trend reversal.

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.