Free Trial

Key $1295.1 Support Holds And Precedes...>

GOLD TECHS
GOLD TECHS: Key $1295.1 Support Holds And Precedes Fresh Rally
*RES 4: $1352.8 Sep 6 high
*RES 3: $1344.0 1.618 swing of $1326.2-$1297.3
*RES 2: $1337.6 Nov 9 high
*RES 1: $1329.0 Intraday high
*PRICE: $1323.7 @1600GMT
*SUP 1: $1316.4 Intraday low
*SUP 2: $1308.2 Initial rally high Aug 31, now support
*SUP 3: $1304.8 Hourly base Aug 31
*SUP 4: $1297.3 Aug 31 low
*COMMENTARY* The pullback from the week's earlier $1326.2 high reached $1297.3
on Thursday, keeping support from the Aug 25 high at $1295.1 intact. This for
the time being keeps recent momentum with the upside. Have subsequently seen a
move back above that previous $1326.2 high and this can see the upside extend
gains towards $1337.6-$1344.0 next. Meanwhile, initial support rises to the
day's $1316.4 low and then $1308.2-$1304.8.

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.