Free Trial

Lacking Upside Momentum *RES 4:..........>

GOLD TECHS
GOLD TECHS: Lacking Upside Momentum
*RES 4: $1266.0 - High July 9 
*RES 3: $1235.2 - High July 26 
*RES 2: $1214.4 - High Aug 28 
*RES 1: $1206.6 - 55-dma 
*PRICE: $1196.6 @ 06:38 GMT 
*SUP 1: $1183.2 - Low Aug 24 
*SUP 2: $1160.4 - Low Aug 16 
*SUP 3: $1150.0 - Support 
*SUP 4: $1122.9 - Low December 15 2017 
Gold continues to trade sideways within its month-long range with gains capped
from above by the 55-dma, currently at $1206.6. Bulls need a break above this
level to shift the short-term outlook bullish and open up the July 26 high,
suggesting a bottoming pattern is playing out. Bears need a push back below the
Aug 24 low at $1183.2 which is the last line of defense before the Aug 16 low at
$1160.4.

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.