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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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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Still Above Weekly/Monthly Trend.........>
GOLD TECHS: Still Above Weekly/Monthly Trend Channels - Corrected Res/Sup table
*RES 4: $1571.9 - 200% retracement of 2018 decline
*RES 3: $1522.8 - Low December 2011
*RES 2: $1510.5 - High Aug 8
*RES 1: $1507.1 - Upper trend channel on monthly chart
*PRICE: $1497.5 @ 08:03 BST Aug 8
*SUP 1: $1492.7/93.1 - Up trendline on weekly chart/161.8% 2018 decline
*SUP 2: $1474.0/72.4 - Upper trend channel on daily chart/ Low Aug 7
*SUP 3: $1456.5/53.1 - Low Aug 6/ Jul 19 high (previous resistance)
*SUP 4: $1430.5 - Aug 2 low
Gold has moved a little off of its highs this morning after briefly breaching
the up trend channel on the monthly chart yesterday. Upside momentum looks to be
sustained but there is a risk of a little more consolidation back into the up
trend channel on the weekly chart which comes in at 1492.7. To move the outlook
more neutral, we need to see a fall back into the daily trend channel with the
top at 1474.0. Bears need to close back below the previous resistance at 1453.1.
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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.