Free Trial

Gold Holds Below Key Resistance

COMMODITIES
  • WTI and Brent crude futures trade just below the week's best levels, as markets watch geopolitical drivers in Russia/Ukraine as well as persistent strength in stock markets. Key resistance remains for Brent at $66.94, the overnight high ahead of $67.14 Key support is unchanged at $60.33, Mar 23 low. WTI (K1) is edging higher too. Key resistance shifts to $63.88, the 61.8% retracement of the February – March downleg.
  • Spot gold trades higher, with prices adding around $10/oz to narrow the gap with key resistance at the 50-dma, which has worked well in containing prices over the past few weeks.
  • Today, that level intersects at $1751.68 and will remain a point of focus going forward.

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.