GOLD TECHS: Impulsive Bull Wave Extends
Feb-05 10:27
- RES 4: $2917.5 - 1.764 proj of the Nov 14 - Dec 12 - 19 price swing
- RES 3: $2900.0 - Round number resistance
- RES 2: $2889.9 - 1.618 proj of the Nov 14 - Dec 12 - 19 price swing
- RES 1: $2872.30 - Intraday high
- PRICE: $2842.40 @ 10:26 GMT Feb 5
- SUP 1: $2807.3 - Low Feb 4
- SUP 2: $2746.5 - 20-day EMA
- SUP 3: $2730.6 - Low Jan 27
- SUP 4: $2698.4 - 50-day EMA
A bull cycle in Gold remains in play. Last week’s extension higher and this week’s appreciation, confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on $2889.9 next, a Fibonacci projection. The first key support to watch is $2698.4, the 50-day EMA. The 20-day EMA is at $2746.5.
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Historical bullets
EURIBOR: Put fly seller
Jan-06 10:19
ERH5 97.62/97.50/97.37p fly sold at 3 in 4k.
US TSY FLOWS: Block trade
Jan-06 10:16
10yr Block trade suggest buyer:
- TYH5 5k at 108.15.
US TSY FLOWS: Bouncing off the lows
Jan-06 10:09
- Some order related bid in Treasuries helps the strip off its low with a pick up in Volumes as we slowly head into the US session.
- TY is bought in 7k, FV 6k and US 2k, all cumulative volumes, but futures contract remain well within the European ranges.
