Free Trial

March 13 High Capping Gains *RES 4:......>

GOLD TECHS
GOLD TECHS: March 13 High Capping Gains
*RES 4: $1346.8 - High Feb 20 
*RES 3: $1337.2 - Broken trendline support from Nov lows 
*RES 2: $1330.0 - High Feb 27 
*RES 1: $1311.0/1311.3 - High Mar 19/ high March 13 
*PRICE: $1304.8 @ 05:33 GMT Mar 20 
*SUP 1: $1292.9 - Low March 14 
*SUP 2: $1280.9 - Low March 7 
*SUP 3: $1276.8 - Low Jan 21/38.2% retracement 
*SUP 4: $1274.4 - 100-dma 
Gold's rally above the 21-dma was met by resistance just ahead of the March 13
high at $1311.3 with a break above this level needed to reignite upside momentum
towards the Feb 27 high at $1330.0. Above here would allow a challenge of
trendline support turned resistance from the Nov lows. Bears look for a move
below Thursday's low at $1292.8 for a downside break. Below here would open the
the Mar 7 low at 1280.9 ahead of the Jan 21 low and 38.2% retracement.

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.