{"id":5021,"date":"2009-11-30T13:46:02","date_gmt":"2009-11-30T18:46:02","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5021"},"modified":"2009-11-30T13:46:02","modified_gmt":"2009-11-30T18:46:02","slug":"gold-pops-back-above-1175oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/11\/30\/gold-pops-back-above-1175oz\/","title":{"rendered":"Gold Pops Back Above $1175\/oz"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has strengthened well from Friday\u2019s selloff, popping back above the psychological $1175\/oz level as the EUR\/USD and AUD\/USD move higher.\u00a0 Investors seeming to be brushing aside the Dubai debt issue, and are reacting by challenging 1100 again in the S&P.\u00a0 Gold is finding comfort in the preference for risk amid an increase in global uncertainty.\u00a0 That being said, there are quite a few key data releases coming from China, the UK, and the U.S. over the next 24 hours which could move the markets.\u00a0 Therefore, gold may be looking to the upcoming fundamental releases before deciding whether to tackle $1200\/oz, or submit to recent downside pressure resulting from risk-aversion and profit-taking.\u00a0 Regardless, gold\u2019s impressive uptrend is alive and well with multiple positive technical forces working in its favor.<\/p>\n

Gold has quite a few uptrend lines in place and the $1150\/oz level could prove to be a technical cushion along with 11\/27 and 11\/17 lows should they be tested.\u00a0 As for the topside, we\u2019re unable to place a downtrend line until we have a bit more track record to use.\u00a0 Therefore, the $1175 and $1200\/oz levels serve as technical barriers along with 11\/26 highs.\u00a0 For the time being, investors should monitor the EUR\/USD\u2019s interaction with our trend lines along with the S&P\u2019s ability to climb back above 1100.\u00a0 A breakout in either could help boost gold due to correlative forces.<\/p>\n

Present Price: $1176.70\/oz<\/p>\n

Resistances: $1178.54\/oz, $1182.37\/oz, $1186.5\/oz, $1194.82\/oz<\/p>\n

Supports: $1173.02\/oz, $1170.16\/oz, $1165.57\/oz, $1161.90\/oz, $1156.88\/oz, $1149.37\/oz<\/p>\n

Psychological: $1175\/oz, $1200\/oz, $1150\/oz<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> <\/span>provided by <\/span>Fast Brokers<\/strong><\/span><\/span>.<\/a><\/p>\n

Disclaimer:<\/strong> <\/span>FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> <\/span>There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Fast Brokers – Gold has strengthened well from Friday\u2019s selloff, popping back above the psychological $1175\/oz level as the EUR\/USD and AUD\/USD move higher.\u00a0 Investors seeming to be brushing aside the Dubai debt issue, and are reacting by challenging 1100 again in the S&P.\u00a0 Gold is finding comfort in the preference for risk amid … <\/p>\n

Continue reading “Gold Pops Back Above $1175\/oz”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5021","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=5021"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5021\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}