MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Trend Outlook Remains Bullish

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: $1824.5 - High Dec 13 and the bull trigger
  • PRICE: $1794.6 @ 07:20 GMT Dec 20
  • SUP 1: $1775.6/65.9 - 20-day EMA / Low Dec 5
  • SUP 2: $1745.7 - 50-day EMA
  • SUP 3: $1729.0 - Low Nov 23 and key short-term support
  • SUP 4: $1702.3 - Low Nov 9

Trend conditions in Gold remain bullish despite last Thursday’s sell-off. Pullbacks are considered corrective and key S/T support to watch is $1765.9, Dec 5 low. The yellow metal breached $1810.0 last week, Dec 5 high, to resume the uptrend. This maintains the positive price sequence of higher highs and higher lows and opens $1842.7, a Fibonacci retracement. On the downside, a break of $1765.9 would signal scope for a deeper pullback.

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