Free Trial

Heavy For Now *RES 4: $1557.3 - High.....>

GOLD TECHS
GOLD TECHS: Heavy For Now
*RES 4: $1557.3 - High Sep 4 and key resistance
*RES 3: $1535.8 - High Sep 24
*RES 2: $1512.6 - High Sep 26
*RES 1: $1500.7 - High Sep 30
*PRICE: $1475.8 @ 07:09 BST Oct 2
*SUP 1: $1459.0 - Low Oct 1
*SUP 2: $1445.8 - 38.2% retracement of Apr 24 - Sep 4 rally
*SUP 3: $1430.3 - Low Aug 2
*SUP 4: $1411.4 - 50.0% retracement of Apr 24 - Sep 4 rally
Gold is seen maintaining a bearish theme following this weeks sell-off and
despite yesterday's bounce.. A trend reversal has been confirmed following the
break of former support at $1483.0, Sep 18 low. More importantly, Monday's move
lower confirmed a break of the trendline support drawn off the May 30 low.
Attention is on the first important retracement at $1445.84, 38.2% of the Apr 24
- Sep 4 rally. Initial resistance is at $1500.7, Sep 30 high.

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.