Free Trial

Overall Focus On $1236.9-1250.0 *RES.....>

GOLD TECHS
GOLD TECHS: Overall Focus On $1236.9-1250.0
*RES 4: $1313.6 - High Sept 26 
*RES 3: $1304.6 - Alternating daily support/resistance 
*RES 2: $1296.4 - High Sept 27 
*RES 1: $1289.5 - Alternating daily support/resistance, 55-DMA
*PRICE: $1285.0 @ 0245GMT
*SUP 1: $1281.8 - Hourly support Sept 28 
*SUP 2: $1277.6 - Low Sept 28 
*SUP 3: $1275.0 - Low Aug 25 
*SUP 4: $1271.6 - 100-DMA
*COMMENTARY: Bears take comfort in consolidation below the 55-DMA although the
bounce from the Thurs lows combined with studies looking to correct from O/S is
less than ideal. Bulls now need a close above $1296.4 to gain breathing room and
above $1320.0 to shift focus higher. While $1296.4 caps bears remain focused on
$1265.3-1275.0 where the 100-DMA is noted. Below $1265.3 is needed to confirm
focus on $1236.9-1250.0 where the 200-DMA and bull channel base are situated.

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.