Free Trial

Initial Focus On $1280.8 *RES 4:.........>

GOLD TECHS
GOLD TECHS: Initial Focus On $1280.8
*RES 4: $1337.4 - Monthly High Nov 9 
*RES 3: $1295.9 - 2017 High June 6 
*RES 2: $1280.8 - High June 14 
*RES 1: $1269.3 - Bollinger band top
*PRICE: $1268.8 @ 2130GMT
*SUP 1: $1262.2 - Hourly support July 28 
*SUP 2: $1257.0 - Low July 28 
*SUP 3: $1252.7 - Hourly resistance July 25 now support 
*SUP 4: $1242.4 - Alternating hourly support/resistance
*COMMENTARY: Bears failed to capitalise on the dip Wednesday with gold finding
support ahead of $1242.4 and resulting in a close above the $1258.8 resistance
that shifted initial focus ton $1280.8 and overall focus on tests of 2017 highs.
The Bollinger top is the key concern and currently caps. Layers of support
remain with bears needing a close below $1252.7 to ease bullish pressure and
below $1242.4 to shift focus lower.

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.