Free Trial

Testing Highs *RES 4: $1375.3 - High.....>

GOLD TECHS
GOLD TECHS: Testing Highs
*RES 4: $1375.3 - High July 11, 2016
*RES 3: $1365.2 - High April 11, 2018
*RES 2: $1355.0 - Downtrend resistance from the 2016 highs
*RES 1: $1346.8 - High Feb 20
*PRICE: $1333.0 @ 06:07 GMT Jun 6
*SUP 1: $1317.7 - 38.2% Retracement of June Rally
*SUP 2: $1303.4 - High May 14
*SUP 3: $1287.9 - High May 27
*SUP 4: $1275.6 - Trendline Support
Gold has accelerated the sharp uptrend further, challenging the February highs,
where resistance is placed at $1346.8. Further gains above here will likely
target the $1365/75 area, representing the peaks from 2016 and 2018, where more
formidable resistance resides. Corrections to recent sharp gains should be
limited to the 38.2% retracement level at $1317.76. Gains are currently
supported by positive momentum indicators.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.