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Free AccessStill consolidating *RES 4: $1557.3 -....>
GOLD TECHS: Still consolidating
*RES 4: $1557.3 - High Sep 4 and key resistance
*RES 3: $1528.3 - High Sep 6
*RES 2: $1524.3 - High Sep 12
*RES 1: $1512.3 - High Sep 16
*PRICE: $1495.3 @ 07:32 BST Sep 19
*SUP 1: $1483.0 - Low Sep 18 and key bear trigger
*SUP 2: $1479.7 - Low Aug 13
*SUP 3: $1471.4 - Low Aug 7
*SUP 4: $1453.1 - High Jul 19
Gold was volatile yesterday post Fed and did trade below key support at $1484.6,
Sep 10 low. There hasn't been any follow through however and the yellow metal is
trading back within its recent range. A clear breach of yesterday's $1483.0 low
would confirm an important technical break. This would see key trendline support
drawn off the May 30 low breached and also highlight a trend reversal. On the
upside, $1524.3 remains the key resistance.
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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.