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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.
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Free AccessMNI US OPEN - RBNZ Cuts 50bps, OCR Forecast Slightly Higher
MNI China Daily Summary: Wednesday, November 27
Impulsive bullish conditions hold *RES...>
GOLD TECHS: Impulsive bullish conditions hold
*RES 4: $1527.0 - Low May 2012
*RES 3: $1522.8 - Low December 2011
*RES 2: $1510.5 - High Aug 8 and bull trigger
*RES 1: $1507.1 - Upper trend channel on monthly chart
*PRICE: $1495.6 @ 07:25 BST Aug 12
*SUP 1: $1490.1 - Low Aug 8
*SUP 2: $1471.4 - Low Aug 7
*SUP 3: $1453.1 - High Jul 19
*SUP 4: $1420.0 - Trendline support drawn off the may 30 low
Gold has seen gains capped since Wednesday around the $1510 level, $3 or so
above the upper band of the trend channel on the monthly chart. A move above
$1510.50 would mark a resumption of the uptrend, opening initially the December
2011 lows at $1522.8 ahead of the May 2012 low of $1527.0. Initial support lies
at $1490.1, a break would potentially open up scope for a deeper pullback
towards the $1450.0 level.
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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.