Free Trial

Impulsive Bull Rally Extends

GOLD TECHS
  • RES 4: $1959.4 - High Jan 6 2021
  • RES 3: $1936.7 - Bull channel top drawn from the Aug 9 2021 low
  • RES 2: $1916.6 - High Jun 1 2021 and a key resistance
  • RES 1: $1914.3 - Intraday high
  • PRICE: $1911.8 @ 07:24 GMT Feb 22
  • SUP 1: $1879.6/53.9 - High Feb 15 / High Jan 25
  • SUP 2: $1844.7 Low Feb 15
  • SUP 3: $1821.1 - Low Feb 11
  • SUP 4: $1808.4 - Bull channel base drawn from the Aug 9 2021 low

Gold remains in an uptrend, with the metal trading higher once again today to maintain the current strong impulsive bull rally. Price is approaching the medium-term upside target of $1916.6, the Jun 1 2021 high and a key bull trigger. Note that the top of the bull channel drawn from the Aug 9 2021 low intersects at $1936.7. On the downside, $1853.9, the January cycle high is seen as a firm support.

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.