Free Trial
EURGBP TECHS

Nearing Support

GBPUSD TECHS

Correction Extends

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Needle Still Points North

GOLD TECHS
  • RES 4: $1927.7 - High Jan 7
  • RES 3: $1917.6 - High Jan 8
  • RES 2: $1892.7 - 76.4% retracement of the Jan 6 - Mar 8 sell-off
  • RES 1: $1890.1 - High May 19
  • PRICE: $1869.6 @ 07:12 BST May 20
  • SUP 1: $1841.3 - Low May 17
  • SUP 2: $1808.9 - Low May 13
  • SUP 3: $1792.1 - 50-day EMA
  • SUP 4: $1764.3 - Low Apr 30

Gold traded higher again yesterday, confirming once again a resumption of the underlying uptrend as the bullish price sequence of higher highs and higher lows extends. Price action has cleared $1851.5, a Fibonacci retracement and 1875.7, the Jan 29 high. Attention is on $1829.7, the 76.4% retracement of the Jan 6 - Mar 8 sell-off. On the downside, key short-term support has been defined at $1808.9, May 13 low. A break would be bearish.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.