GOLD TECHS: Retracement Mode
- RES 4: $3000.0 - Psychological round number
- RES 3: $2976.8 - 2.0% 10-dma envelope
- RES 2: $2962.2 - 2.00 proj of the Nov 14 - Dec 12 - 19 price swing
- RES 1: $2920.8/2956.2 - High Feb 27 / 24 and the bull trigger
- PRICE: $2836.7 @ 15:07 GMT Feb 28
- SUP 1: $2832.7 - Intraday low
- SUP 2: $2802.4 - 50-day EMA
- SUP 3: $2758.3 - Low Jan 30
- SUP 4: $2730.6 - Low Jan 27
A corrective phase in Gold remains in play and the yellow metal is trading lower again, today. Price has traded through the 20-day EMA, at $2882.1. This signals scope for a deeper short-term retracement, possibly towards the next important support around the 50-day EMA, at $2802.4. For bulls, a resumption of gains would refocus attention on the next objective at $2962.2, a Fibonacci projection. This would also open the $3000.0 handle.
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BONDS: BTP Block trade
BTP Block trade, suggest buyer:
IKH5 1k at 119.14.
