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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.
GOLD TECHS
- Tuesday's rally in gold puts the metal at the best levels since January and within striking distance of the key psychological $1900 mark. A break through here opens next key resistance at the Jan 8 high of $1917.6.
- Despite recent strength, the market is beginning to show signs that gold could be overbought, with the RSI today edging above 75 for the first time since August.
- The broad RSI strategy (Long when crosses above 30, Short when drops below 70) appears to be on the cusp of switching to a sell signal for gold for the first time since Jan 7th.
- This strategy has been one of the most profitable of the past 12 months, and January's sell signal presaged a $200/oz drop in gold:
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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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