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Trend Needle Points North

GOLD TECHS
Metals bulletMetals Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsForeign Exchange Bullets
  • RES 4: $2528.4 - 3.00 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 3: $2500.0 - Round number resistance
  • RES 2: $2481.5 - 2.764 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 1: $2452.5 - 2.618 proj of the Oct 6 - 27 - Nov 13 price swing
  • PRICE: $2417.2 @ 07:08 BST May 22
  • SUP 1: $2358.0/2293.9 - 20- and 50- day EMA values
  • SUP 2: $2277.4 - Low May 3 and a pivot support
  • SUP 3: $2187.4 - Low Mar 28
  • SUP 4: $2146.2 - Low Mar 18 and key short-term support

Gold is unchanged. The medium-term trend structure remains bullish. Monday’s initial gains resulted in a print above resistance at $2431.5, the Apr 12 high and bull trigger. The break confirms a resumption of the primary uptrend and paves the way for a climb towards 2452.5 next, a Fibonacci projection. On the downside, the 50-day EMA, at $2293.9, represents a key support. A clear break of it would be bearish.

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  • RES 4: $2528.4 - 3.00 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 3: $2500.0 - Round number resistance
  • RES 2: $2481.5 - 2.764 proj of the Oct 6 - 27 - Nov 13 price swing
  • RES 1: $2452.5 - 2.618 proj of the Oct 6 - 27 - Nov 13 price swing
  • PRICE: $2417.2 @ 07:08 BST May 22
  • SUP 1: $2358.0/2293.9 - 20- and 50- day EMA values
  • SUP 2: $2277.4 - Low May 3 and a pivot support
  • SUP 3: $2187.4 - Low Mar 28
  • SUP 4: $2146.2 - Low Mar 18 and key short-term support

Gold is unchanged. The medium-term trend structure remains bullish. Monday’s initial gains resulted in a print above resistance at $2431.5, the Apr 12 high and bull trigger. The break confirms a resumption of the primary uptrend and paves the way for a climb towards 2452.5 next, a Fibonacci projection. On the downside, the 50-day EMA, at $2293.9, represents a key support. A clear break of it would be bearish.