Free Trial

Fresh All-Time High

GOLD TECHS
  • RES 4: $2600.0 - Round number resistance
  • RES 3: $2575.4 - 3.236 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 2: $2528.4 - 3.00 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 1: $2509.9 - Intraday high
  • PRICE: $2503.2 @ 07:16 BST Aug 19
  • SUP 1: $2432.6/ - 20-day EMA
  • SUP 2: $2396.2/2353.2 50-day EMA / Low Jul 25
  • SUP 3: $2286.9 - Low Jun 7
  • SUP 4: $2277.4 - Low May 3 and a pivot support

Gold is unchanged and the metal is holding on to its latest gains. Friday’s rally delivered a fresh all-time high and the breach of resistance at $2483.7, the Jul 17 high, confirmed a resumption of the primary uptrend. Note that moving average studies remain in a bull-mode set-up and this continues to highlight a dominant uptrend. The focus is on a climb towards $2528.4, a Fibonacci projection. Initial support to watch lies at $2432.6.

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.