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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: $2982.7 - 4.0% 10-dma envelope
  • RES 2: $2962.2 - 2.00 proj of the Nov 14 - Dec 12 - 19 price swing
  • RES 1: $2942.7 - High Feb 11
  • PRICE: $2937.2 @ 07:31 GMT Feb 14
  • SUP 1: $2864.2 - Low Feb 12  
  • SUP 2: $2820.6 - 20-day EMA  
  • SUP 3: $2745.4 - 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 latest highs. Recent gains once again confirm a resumption of the uptrend and maintain 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 $2820.6, the 20-day EMA.

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  • RES 4: $3000.0 - Psychological round number   
  • RES 3: $2982.7 - 4.0% 10-dma envelope
  • RES 2: $2962.2 - 2.00 proj of the Nov 14 - Dec 12 - 19 price swing
  • RES 1: $2942.7 - High Feb 11
  • PRICE: $2937.2 @ 07:31 GMT Feb 14
  • SUP 1: $2864.2 - Low Feb 12  
  • SUP 2: $2820.6 - 20-day EMA  
  • SUP 3: $2745.4 - 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 latest highs. Recent gains once again confirm a resumption of the uptrend and maintain 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 $2820.6, the 20-day EMA.