Free Trial

Triangle Breakout *RES 4: $1800.0 -......>

GOLD TECHS
GOLD TECHS: Triangle Breakout
*RES 4: $1800.0 - Psychological round number
*RES 3: $1770.1 - 1.236 projection of the Nov - Mar rally from Mar 16 low
*RES 2: $1747.4 - High Apr 15 and bull trigger
*RES 1: $1739.3 - High Apr 27
*PRICE: $1733.6 @ 06:47 BST May 15
*SUP 1: $1736.6 - Low May 14
*SUP 2: $1692.0 - Low May 11
*SUP 3: $1676.8 - Low May 7
*SUP 4: $1670.7 - Low May 1
Gold traded higher yesterday and confirmed an important technical break,
clearing the top of the triangle formation it has been trading within the past
few weeks. The break higher signals a resumption of the underlying uptrend and
attention shifts to resistance at $1739.3, Apr 23 high and the key resistance at
$1747.4, the Apr 14 trend high. A break of the latter would confirm a resumption
of the uptrend. Support to watch for now is at $1692.0.

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.