Free Trial

Through The Channel Top *RES 4:..........>

GOLD TECHS
GOLD TECHS: Through The Channel Top
*RES 4: $1388.0 - High Mar 14, 2014 
*RES 3: $1365.2 - High April 11 
*RES 2: $1360.0 - Downtrend resistance from  July 11 high
*RES 1: $1326.0 - High May 11 
*PRICE: $1319.5 @ 06:12 GMT Jan 31 
*SUP 1: $1298.6 - High Jan 4, now support 
*SUP 2: $1276.8 - Low Jan 21 
*SUP 3: $1260.0 - Double top downside target 
*SUP 4: $1245.8 - 200-dma 
Gold's rally gained further momentum yesterday on the dovish Fed meeting as the
metal overcame its channel top to open the May 11 high at $1326.0. A break above
this level would bring down trendline resistance from the July 11 high into
play, above which would target the 2018 highs. Bears need to push back below the
Jan 4 high at $1298.6 to take the near term pressure off, while a break below
the Jan 21 low at $1276.8 is needed to suggest a bearish reversal.

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.