Free Trial

Immediate Focus On 200-DMA *RES 4:.......>

GOLD TECHS
GOLD TECHS: Immediate Focus On 200-DMA
*RES 4: $1291.1 - Hourly resistance Oct 19 
*RES 3: $1283.7 - High Oct 24 
*RES 2: $1280.8 - 21-DMA 
*RES 1: $1270.7 - Hourly support Oct 6 now resistance
*PRICE: $1267.9 @ 0430GMT
*SUP 1: $1261.4 - Bollinger band base 
*SUP 2: $1260.6 - Low Oct 6 
*SUP 3: $1259.6 - 200-DMA 
*SUP 4: $1248.7 - Daily Bull channel base
*COMMENTARY: Bears take comfort from a close below the 100-DMA that confirms
focus on $1243.8-1260.6 where the 200-DMA and channel base are situated. Bears
now need a close below $1243.8 to shift focus to $1194.9-1204.9 where July lows
are noted. Layers of resistance are weighing with bulls now needing a close
above $1283.7 to ease bearish pressure and hint at a correction back to
$1291.1-1296.9 where the 55-DMA is found.

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.