Free Trial

Recovery Builds Momentum *RES 4:.........>

GOLD TECHS
GOLD TECHS: Recovery Builds Momentum
*RES 4: $1365.2 - High April 11, 2018 
*RES 3: $1346.8 - High Feb 20 
*RES 2: $1330.0 - High Feb 27 
*RES 1: $1315.3/1310.9 - High Mar 1/21-dma 
*PRICE: $1304.8 @ 06:03 GMT Mar 13 
*SUP 1: $1280.9 - Low Mar 5 
*SUP 2: $1276.8 - Low Jan 21/38.2% retracement 
*SUP 3: $1270.7 - 100-dma 
*SUP 4: $1253.8 - 50% retracement of Aug-Feb rally 
Gold's recovery has extended back through the $1300 level with bulls now
targeting the Mar 1 high and the 21-dma at $1315.3/1310.9. A break above here
would open the Feb 27 high at $1330.0 ahead of the ytd high seen on Feb 20 at
$1346.8. To reignite downside momentum bears need to take out the Mar 5 low at
$1280.9 which would open the Feb 21 ytd lows at $1276.8 and the 38.2%
retracement.

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.