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Free AccessSupport Lies At The 50-Day EMA
- RES 4: $2063.0 - High May 4 and a key resistance
- RES 3: $2048.2 - High May 10
- RES 2: $2022.2 - High May 15
- RES 1: $2009.4 - High Oct 27 and the bull trigger
- PRICE: $1955.4 @ 07:13 GMT Nov 10
- SUP 1: $1938.1 - 50-day EMA
- SUP 2: $1868.8 - Low Oct 13
- SUP 3: $1844.3 - Low Oct 9
- SUP 4: $1810.5 - Low Oct 6 and key support
The latest pullback in Gold appears to be a correction - for now - and the trend condition remains bullish. Moving average studies are in a bull-mode set-up, highlighting a rising trend. A resumption of gains would open $2022.20 next, the May 15 high. Initial firm pivot support lies at $1938.1, the 50-day EMA. Clearance of this level is required to signal a short-term top and the potential for a deeper retracement.
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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.