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GOLD TECHS: Trend Needle Points North

GOLD TECHS
Metals Technical AnalysisCommodities TechBulletMarketsForeign Exchange BulletsCommodities
  • RES 4: $3000.0 - Psychological round number   
  • RES 3: $2962.2 - 2.00 proj of the Nov 14 - Dec 12 - 19 price swing 
  • RES 2: $2955.3 - 4.0% 10-dma envelope
  • RES 1: $2942.7 - High Feb 11
  • PRICE: $2895.4 @ 07:27 GMT Feb 12
  • SUP 1: $2852.7 - Low Feb 7  
  • SUP 2: $2799.3 - 20-day EMA  
  • SUP 3: $2731.2 - 50-day EMA   
  • SUP 4: $2689.5 - Low Jan 20

A bull cycle in Gold remains in play and the yellow metal is trading closer to its recent highs. The continued appreciation once again confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on the $2962.2, a Fibonacci projection. The first key support to watch is $2779.3, the 20-day EMA.

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  • RES 4: $3000.0 - Psychological round number   
  • RES 3: $2962.2 - 2.00 proj of the Nov 14 - Dec 12 - 19 price swing 
  • RES 2: $2955.3 - 4.0% 10-dma envelope
  • RES 1: $2942.7 - High Feb 11
  • PRICE: $2895.4 @ 07:27 GMT Feb 12
  • SUP 1: $2852.7 - Low Feb 7  
  • SUP 2: $2799.3 - 20-day EMA  
  • SUP 3: $2731.2 - 50-day EMA   
  • SUP 4: $2689.5 - Low Jan 20

A bull cycle in Gold remains in play and the yellow metal is trading closer to its recent highs. The continued appreciation once again confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on the $2962.2, a Fibonacci projection. The first key support to watch is $2779.3, the 20-day EMA.