Free Trial

Trend Needle Points North

GOLD TECHS
  • RES 4: $1909.8 - High May 5
  • RES 3: $1842.7 - 50.0% retracement of the Mar - Sep bear leg
  • RES 2: $1833.0 - High Jun 29
  • RES 1: $1807.9/10.0 - High Aug 10 and key resistance / High Dec 5
  • PRICE: $1787.5 @ 07:14 GMT Dec 13
  • SUP 1: $1763.7 - 20-day EMA
  • SUP 2: $1729.0 - Low Nov 23 and key short-term support
  • SUP 3: $1702.3 - Low Nov 9
  • SUP 4: $1664.8 - Low Sep 8

Trend conditions in Gold remain bullish and recent pullbacks appear to be a correction. A fresh trend high on Dec 5 reinforced a bullish theme and price has recently breached $1786.5, the Nov 15 high and a bull trigger, confirming a resumption of the uptrend. $1800.0 has been cleared and sights are on $1807.9, the Aug 10 high that has been pierced. A clear break would be bullish. Key trend support is at $1729.0, the Nov 23 low.

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.