• 2 days Welcome To The Used Car Bonanza
  • 3 days The Year Of The Retail Investor Keeps Getting Bigger
  • 4 days Airlines Could Recover, But Crew Remain Elusive
  • 4 days Meet The Man Behind The World's Most Exciting Oil Play
  • 5 days Crypto-Mining Immigration Could Be The Start Of A New Trend
  • 7 days Hawkish Fed Sends Gold Prices Crashing
  • 8 days Bezos Is Heading To Space This Sunday
  • 11 days El Salvador’s Surprise Bitcoin Move
  • 14 days Markets Unfazed As Inflation Hits 13-Year High
  • 15 days How the Token Economy is Disrupting Financial Markets
  • 17 days FBI Investigating 100 Types Of Ransomware Attacks
  • 19 days Fed Ends Corporate Credit Emergency Lending Program
  • 21 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 22 days The Real Reason Your 401k Has Been Lagging
  • 23 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 25 days The Market Is Ripe For Another GameStop Saga
  • 28 days Senate Grills Big Banks Over Pandemic Opportunism
  • 29 days Cannabis Has A Major Cash Problem
  • 30 days Ransomware Netted Criminals $350M In 2020 Alone
  • 31 days Russia Is Taking On Google
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

Contact Author

  1. Home
  2. Markets
  3. Other

Gold - Pushing Lower

Gold is moving downward. Hourly resistance is given at 1168 (24/08/2015 low). Hourly support can be found at 1093 (Stronger support can be found at 1109 (11/08/2015 low). The technical structure suggests a downside momentum.

In the long-term, the underlying downtrend (see declining channel) continues to favour a bearish bias. Although the key support at 1132 (07/11/2014 low) has been broken, a break of the resistance at 1223 is needed to suggest something more than a temporary rebound. A major support can be found at 1045 (05/02/2010 low).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment