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(N2) Bullish Extension


Positives Out Of China Eyed


(M2) Eyeing The 50-Day EMA


(M2) Corrective Cycle


Marginally Lower In Asia

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Heading North

  • RES 4: $1877.2 - High Nov 16 and key resistance
  • RES 3: $1871.0 - High Nov 18
  • RES 2: $1849.1 - High Nov 22
  • RES 1: $1848.1 - 76.4% retracement of the Nov 16 - Dec 15 downleg
  • PRICE: $1842.4 @ 07:11 GMT Jan 21
  • SUP 1: $1805.9 - Low Jan 18
  • SUP 2: $1790.7/82.8 - Channel base from Aug 9 low / Low Jan 7
  • SUP 3: $1753.7 - Low Dec 15 and a key support
  • SUP 4: $1746.0 - Low Oct 6

Gold short-term conditions remain bullish following Wednesday’s strong rally. The climb has resulted in a break of resistance at $1831.9, Jan 3 high and a bull trigger. The breach reinforces bullish conditions following the recent recovery from the base of its bull channel drawn from the Aug 9, 2021 low. Attention is on $1848.0 next, a Fibonacci retracement. Firm short-term support has been defined at $1805.9.

MNI London Bureau | +44 203-586-3805 |

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