Free Trial

Recovery Stalls

  • RES 4: $1903.1 - High Jun 11, 2021
  • RES 3: $1877.2 - High Nov 16 and key resistance
  • RES 2: $1871.0 - High Nov 18
  • RES 1: $1853.9 - High Jan 25 and the bull trigger
  • PRICE: $1814.5 @ 07:17 GMT Jan 27
  • SUP 1: $805.9 - Low Jan 18
  • SUP 2: $1794.1/82.8 - Channel base from Aug 9 low / Low Jan 7
  • SUP 3: $1753.7 - Low Dec 15 and a key support
  • SUP 4: $1746.0 - Low Oct 6

The rally in gold has stalled. Yesterday’s sharp sell-off exposes support at $1805.9, Jan 18 low and the base of the bull channel at $1794.1 - the channel is drawn off the Aug 9 low. For now, the move lower is considered corrective, however a break of the channel base will likely alter the picture and highlight a more significant reversal. For bulls, a break of $1853.9, Jan 25 high is required to reinstate the recent bull theme.

To read the full story



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.