Free Trial

Gravestone doji *RES 4: $1617.1 - High...>

GOLD TECHS
GOLD TECHS: Gravestone doji
*RES 4: $1617.1 - High Apr 2013
*RES 3: $1600.0 - Psychological round number
*RES 2: $1587.0 - 61.8% retracement of the 2011 to 2015 decline
*RES 1: $1555.3 - High Aug 26
*PRICE: $1531.5 @ 06:59 BST Aug 27
*SUP 1: $1492.4 - Low Aug 22
*SUP 2: $1479.7 - Low Aug 13 and key support
*SUP 3: $1471.4 - Low Aug 7
*SUP 4: $1453.1 - High Jul 19
Gold resumed its uptrend yesterday clearing the former key resistance at
$1535.1, the Aug 13 high. This maintains the price sequence of higher highs and
higher lows and the focus is on $1587.0, 61.8% of the 2011 - 2015 decline.
Support has been defined at $1492.6, the Aug 22 low where a break is required to
neutralise the current rally. Note a bearish candle formation, a gravestone doji
was confirmed on yesterday's close. Perhaps an early warning of a 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.