Free Trial

SPOT GOLD: Downtrend Accelerated *RES....>

GOLD TECHS
GOLD TECHS: SPOT GOLD: Downtrend Accelerated
*RES 4: $1235.2 - High July 26 
*RES 3: $1228.6 - High July 31 
*RES 2: $1223.8 - 21-DMA 
*RES 1: $1215.8 - High August 7 
*PRICE: $1195.03 @ 07:52 GMT 
*SUP 1: $1191.8 - Low August 13 
*SUP 2: $1180.6 - Low January 27 2017 
*SUP 3: $1077.4 - Low July 24 2015 
*SUP 4: $1046.4 - Low December 3 2015 
Gold has accelerated the downtrend, continuing to extend the major decline with
a break below the 1195.1 level. The focus is now on the 1180.6 area. Momentum
indicators have finally confirmed the renewed break lower by giving negative
signals yesterday. Corrective rebounds have remained limited, leaving an
impulsive bearish structure in place. Rebounds are likely to meet resistance at
1201.46 level, representing a 38.2% retracement of the last decline.

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.