Free Trial

Lack Of Upside Momentum *RES 4:..........>

GOLD TECHS
GOLD TECHS: Lack Of Upside Momentum
*RES 4: $1346.8 - High Feb 20 
*RES 3: $1330.0 - High Feb 27 
*RES 2: $1315.3/1313.0 - High Mar 1/21-dma 
*RES 1: $1297.1/1302.4 - High Mar 4/50-dma 
*PRICE: $1284.4 @ 06:04 GMT Mar 7 
*SUP 1: $1281.3 - Low Mar 5 
*SUP 2: $1276.8 - Low Jan 21/38.2% retracement 
*SUP 3: $1267.7 - 100-dma 
*SUP 4: $1253.8 - 50% retracement of Aug-Feb rally 
Gold remains under pressure with the focus firmly on the on the downside with a
break below Tuesday's low needed to open the Feb 21 ytd lows at $1276.8 and the
38.2% retracement. Below here would raise the prospect of a further downside
reversal towards the 100-dma at $1267.7. Bulls look to recover Monday's high and
the 50-dma to stabilise the outlook above which would open Friday's high and the
21-dma.

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.