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Kiwi extends gains


European gas lowest since Feb


China & EU remain in focus




Resistance Seen At The 20-Day EMA

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Testing The 20-day EMA

  • RES 4: $1892.8 - 61.8% retracement of the Jan 6 - Feb 4 sell-off
  • RES 3: $1875.7 - High Jan 29 and key near-term resistance
  • RES 2: $1857.5 - 50-day EMA
  • RES 1: $1834.9 - 20-day EMA
  • PRICE: $1841.5 @ 07:25 GMT Feb 9
  • SUP 1: $1807.9 - Low Feb 8
  • SUP 2: $1785.0 - Low Feb 4
  • SUP 3: $1775.9 - Low Dec 1
  • SUP 4: $1764.8 - Low Nov 30

Gold has found support this week and is extending the rebound from last week's low of $1785.0. The yellow metal has arrived at the 20-day EMA at $1843.9. A break of this average would expose the 50-day EMA at $1857.5. Clearance of both averages would be a bullish development and open resistance at $1875.7, the Jan 29 high. On the downside, sub $1785.0 levels would instead resume the recent bearish pressure.

MNI London Bureau | +44 203-586-3805 |

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