Free Trial

Neckline Support Back In Play *RES 4:....>

GOLD TECHS
GOLD TECHS: Neckline Support Back In Play
*RES 4: $1346.8 - High Feb 20 
*RES 3: $1324.6 - High Mar 25 
*RES 2: $1312.3 - High Mar 28 
*RES 1: $1310.7 - High Apr 10/Downtrend resistance from Feb highs 
*PRICE: $1292.5 @ 06:12 GMT Apr 12 
*SUP 1: $1281.0/1280.9 - Low Apr 4/Low March 7 
*SUP 2: $1276.8 - Low Jan 21/38.2% retracement 
*SUP 3: $1253.6 - 50% retracement 
*SUP 4: $1250.2 - 200-dma 
Higher bond yields took the wind out of gold's sails yesterday with the metal
dropping back below $1300 to return the focus to the $1281.0/1280.9 April
3/March 7 lows. A break below here would suggest further downside to the Jan 21
low /38.2% retracement at $1281.0/1280.9. Bulls focus remains on $1310.7 which
marks down trendline resistance from the Feb highs and Wednesday's high. 

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.