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GOLD TECHS: Continues To Appreciate

GOLD TECHS
Metals Technical AnalysisCommodities TechBulletMarketsForeign Exchange BulletsCommodities
  • RES 4: $2708.4 - 2.764 proj of the Jul 25 - Aug 2 - Aug 5 price swing   
  • RES 3: $2700.00 Round number resistance
  • RES 2: $2675.5 - 2.50 proj of the Jul 25 - Aug 2 - Aug 5 price swing
  • RES 1: $2670.6 - Intraday high                
  • PRICE: $2657.6 @ 07:07 BST Sep 25
  • SUP 1: $2614.0 - Low Sep 23 
  • SUP 2: $2558.0/2511.1 - 20-day EMA / Low Sep 12  
  • SUP 3: $2496.6 - 50-day EMA
  • SUP 4: $2472.0 - Low Sep  4 and a key support

Gold bulls remain in the driver’s seat and the yellow metal has again traded to a fresh all-time high. The move higher confirms a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull-mode set-up, highlighting a clear uptrend and positive market sentiment. The focus is on $2675.5 next, a Fibonacci projection. Firm support lies at $2558.0, the 20-day EMA. 

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  • RES 4: $2708.4 - 2.764 proj of the Jul 25 - Aug 2 - Aug 5 price swing   
  • RES 3: $2700.00 Round number resistance
  • RES 2: $2675.5 - 2.50 proj of the Jul 25 - Aug 2 - Aug 5 price swing
  • RES 1: $2670.6 - Intraday high                
  • PRICE: $2657.6 @ 07:07 BST Sep 25
  • SUP 1: $2614.0 - Low Sep 23 
  • SUP 2: $2558.0/2511.1 - 20-day EMA / Low Sep 12  
  • SUP 3: $2496.6 - 50-day EMA
  • SUP 4: $2472.0 - Low Sep  4 and a key support

Gold bulls remain in the driver’s seat and the yellow metal has again traded to a fresh all-time high. The move higher confirms a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull-mode set-up, highlighting a clear uptrend and positive market sentiment. The focus is on $2675.5 next, a Fibonacci projection. Firm support lies at $2558.0, the 20-day EMA.