MNI: PBOC Conducts Net CNY2 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0956 Tues; -4.88% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.0956 TUES VS 7.0947

MNI BRIEF: China Pork Prices Climb For 5th Straight Week

MNI EM China Daily Summary: Monday, April 8

Easter Timing Buoys March Food Retail Sales

MNI: UK BRC MAR BY VALUE SHOP SALES LFL +3.2% YY, TOTAL +3.5% YY

BOC Data Watch

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Short-Term Corrective Cycle Still In Play

GOLD TECHS
  • RES 4: $1765.5 - High Aug 25 and a key resistance
  • RES 3: $1714.3/35.1 - 50-day EMA / High Sep 12
  • RES 2: $1688.0/1707.1 - High Sep 21 / High Sep 14
  • RES 1: $1676.6 - 20-day EMA
  • PRICE: $1666.4 @ 07:20 BST Nov 3
  • SUP 1: $1615.0 - Low Sep 28 and the bear trigger
  • SUP 2: $1610.5 - 1.00 proj of the Jun 13 - Jul 21 - Aug 10 swing
  • SUP 3: $1569.1 - Low Apr 1 2020
  • SUP 4: $1563.9 - 1.236 proj of the Jun 13 - Jul 21 - Aug 10 swing

Gold has recovered from last Wednesday's low of $1615.0. Short-term gains are considered corrective and the downtrend remains intact. The next resistance is at $1676.6, the 20-day EMA. A break of this level would signal scope for an extension higher. On the downside, $1615.0 is the bear trigger. A breach would confirm a resumption of the bear cycle and this would open $1610.5, a Fibonacci projection.

Energy BulletsCommodities
Energy BulletsCommodities

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.