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GOLD TECHS: GOLD TECHS: Fresh All-Time High

GOLD TECHS
  • RES 4: $2600.0 - Round number resistance    
  • RES 3: $2583.9 - 1.764 proj of the Jul 25 - Aug 2 - Aug 5 price swing
  • RES 2: $2565.8 - 1.618 proj of the Jul 25 - Aug 2 - Aug 5 price swing 
  • RES 1: $2551.7 - Intraday high                  
  • PRICE: $2443.9 @ 15:24 BST Sep 12
  • SUP 1: $2495.2/2472.0 - 20-day EMA / Low Sep  4 
  • SUP 2: $2453.4 - 50-day EMA 
  • SUP 3: $2417.0 - Low Sep 8 
  • SUP 4: $2364.4 - Low Aug 5 

A bullish structure in Gold remains intact and today’s gains have reinforced this theme as the metal trades to a new all-time high. This ends the recent consolidation - a pause in the uptrend and maintains the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode set-up, highlighting a clear uptrend. The focus is on $2565.75, a Fibonacci projection.

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