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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI US MARKETS ANALYSIS - NFP Followed by Ample Fedspeak
MNI US OPEN - Soft NFP Report Should Cement December Cut
MNI China Daily Summary: Friday, December 6
###POV 6+ Yr BEAR CHANNEL BREAK IN.......>
GOLD TECHS: ###POV 6+ Yr BEAR CHANNEL BREAK IN TROUBLE
- LT Gold bulls took comfort in the break of $1295.9 back in August. This
confirmed a break of the LT bear channel top off record highs from Sept 2011
seeing LT focus shift to layers of resistance $1374.9 (2016 High) -1527.0 (2012
Low now resistance). The failure ahead of the 2016 high has seen gold retrace
back towards the key $1180.6 (Low Jan 27) - $1232.4 (200-WMA) region where the
200-WMA and the rising daily TL ($1197.4) off late Dec 2015 lows are located.
- Given the current environment of rising US 10-yr yields there is an increased
risk of incursions into this region with LT bears needing a close below $1180.6
to confirm breaks of key LT supports and shift initial focus to tests of $1045.9
2015 lows. A close below $1045.9 then sees LT bears targeting $680.8 2008 lows.
- In order to negate this view LT bulls need to see a close above $1374.9 to
reconfirm traction above the broken LT channel top and above $1527.0 to shift
overall focus to record highs. Gold was last at $1240.4
- Click for charts https://tinyurl.com/yb58mfse
https://tinyurl.com/y7824aua
To read the full story
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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.