© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

MNI: BAKER HUGHES US RIG COUNT 625; OIL RIGS 505; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Trend Condition Remains Bullish

GOLD TECHS
Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesBulletMarketsForeign Exchange News
  • 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 Nov 7 / High Oct 27 and the bull trigger
  • PRICE: $1979.8 @ 07:19 GMT Nov 20
  • SUP 1: $1943.4/1908.3 - 50-day EMA / Low Oct 16
  • 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 trend condition in Gold remains bullish and recent gains reinforce this condition. Furthermore, MA studies are in a bull-mode set-up, highlighting a rising trend cycle. A stronger resumption of gains would open $2022.20, May 15 high. The bull trigger is at $2009.4, the Oct 27 high. Note that support at the 50-day EMA, at $1943.4, has been pierced. A clear break of this average would undermine the bullish theme and expose $1908.3, Oct 16 low.

152 words

To read the full story

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.
  • 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 Nov 7 / High Oct 27 and the bull trigger
  • PRICE: $1979.8 @ 07:19 GMT Nov 20
  • SUP 1: $1943.4/1908.3 - 50-day EMA / Low Oct 16
  • 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 trend condition in Gold remains bullish and recent gains reinforce this condition. Furthermore, MA studies are in a bull-mode set-up, highlighting a rising trend cycle. A stronger resumption of gains would open $2022.20, May 15 high. The bull trigger is at $2009.4, the Oct 27 high. Note that support at the 50-day EMA, at $1943.4, has been pierced. A clear break of this average would undermine the bullish theme and expose $1908.3, Oct 16 low.