Free Trial

Pressure Back On $1326.1-1352.6 *RES.....>

GOLD TECHS
GOLD TECHS: Pressure Back On $1326.1-1352.6
*RES 4: $1352.6 - Monthly High Sept 7 
*RES 3: $1343.6 - High Sept 22 
*RES 2: $1337.4 - Monthly High Nov 9 
*RES 1: $1326.1 - 2017 high Aug 29
*PRICE: $1319.3 @ 0430GMT
*SUP 1: $1313.7 - High Aug 30 now support 
*SUP 2: $1304.9 - Hourly support Aug 31 
*SUP 3: $1298.4 - Low Aug 31 
*SUP 4: $1295.5 - Hourly support Aug 28a
*COMMENTARY: The $1295.5 support confirmed significance with gold bouncing
aggressively form a dip back towards this level Thursday. The recovery from
Thursday lows sees immediate pressure back on the $1326.1-1352.6 region where
2017 & monthly highs and the daily bull channel top are situated. The Bollinger
top ($1323.2) is the key concern for bulls. Bears now need a close below $1213.7
to ease bullish pressure.

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.