MNI BRIEF: Ueda Says BOJ Unable To Predict US Soft Landing

CORRECTED-MNI BRIEF: Depreciation Pressure On Yuan Eases-Pan

MNI BRIEF: Ueda Says BOJ Has Ample Time To Study Developments

MNI BRIEF: Conditions For PBOC Bond Trading Are Maturing - Pan

MNI BRIEF: China To Recapitalise Six Large State-owned Banks

MNI BRIEF: PBOC Eyes Stock Market Stabilisation Tools

MNI: GERMANY SEP IFO BUSINESS CLIMATE INDEX 85.4

RBA SAYS BOARD NOT "RULING ANYTHING IN OR OUT"

MNI: RBA HOLDS CASH RATE AT 4.35%

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OUTLOOK: Price Signal Summary - Gold Bull Cycle Still In Play

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • On the commodity front, a bullish structure in Gold remains intact and the metal has traded, once again, to a fresh all-time high. The move higher confirms a resumption of the primary uptrend. Moving average studies are in a bull-mode set-up, highlighting a clear uptrend and positive market sentiment. The focus is on $2642.7 next, 2.236 projection of the Jul 25 - Aug 2 - Aug 5 price swing. Firm support lies at $2539.0, the 20-day EMA.
  • In the oil space, WTI futures traded higher last week and maintained a firmer tone. The recovery since Sep 9, appears - for now - to be a correction. The next key resistance is $72.46, the 50-day EMA. Note that moving average studies are in a bear-mode set-up, highlighting a dominant downtrend. A reversal lower would refocus attention on $64.61, the Sep 10 low and bear trigger.
143 words

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.
  • On the commodity front, a bullish structure in Gold remains intact and the metal has traded, once again, to a fresh all-time high. The move higher confirms a resumption of the primary uptrend. Moving average studies are in a bull-mode set-up, highlighting a clear uptrend and positive market sentiment. The focus is on $2642.7 next, 2.236 projection of the Jul 25 - Aug 2 - Aug 5 price swing. Firm support lies at $2539.0, the 20-day EMA.
  • In the oil space, WTI futures traded higher last week and maintained a firmer tone. The recovery since Sep 9, appears - for now - to be a correction. The next key resistance is $72.46, the 50-day EMA. Note that moving average studies are in a bear-mode set-up, highlighting a dominant downtrend. A reversal lower would refocus attention on $64.61, the Sep 10 low and bear trigger.