{"id":8068,"date":"2010-03-29T12:53:13","date_gmt":"2010-03-29T16:53:13","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8068"},"modified":"2010-03-29T12:53:13","modified_gmt":"2010-03-29T16:53:13","slug":"gold-pops-back-above-1110oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/29\/gold-pops-back-above-1110oz\/","title":{"rendered":"Gold Pops Back Above $1110\/oz"},"content":{"rendered":"

By Fast Brokers <\/strong>– Gold is adding onto Friday\u2019s gains after the precious metal popped back above its highly psychological $1100\/oz level in the wake of an EU agreement concerning potential financial aid for Greece.\u00a0 Gold followed positive risk trade money flows, indicating the precious metal\u2019s negative correlation with the Dollar is in full-effect.\u00a0 That being said, investors should remain on the cautious side since both the EUR\/USD and Cable still face key technical barriers, mostly notably their psychological 1.35 and 1.50 levels, respectively.\u00a0 Hence, investors should keep tabs on the major Dollar pairs along with their interactions with important technical levels.\u00a0 Although the data wire is quiet today, the flow will pick up tomorrow with Final GDP and HPI data from the UK followed by U.S. CB Consumer Confidence.\u00a0 However, attention is focused on Wednesdays ADP employment number followed by Friday\u2019s headline employment change figure.\u00a0 That being said, activity in gold and the FX markets could pick up as the week progresses.\u00a0 Meanwhile, it will be interesting to see gold can continue to build off of last week\u2019s bottom and hold above its highly psychological $1100\/oz level.<\/p>\n

Technically speaking, gold has multiple downtrend lines serving as technical barriers along with intraday and 3\/19 highs.\u00a0 As for the downside, gold now has multiple uptrend line serving as technical cushions intraday and 3\/23 lows.\u00a0 Additionally, the $1100\/oz level could continue to have an influence on price over the near-term.<\/p>\n

Present Price: $1110.40\/oz
\nResistances: $1111.28\/oz, $1112.31\/oz, $1113.75\/oz, $1114.66\/oz, $1115.46\/oz, $1117.07\/oz
\nSupports: $1109.95\/oz, $1109.25\/oz, $1108.13\/oz, $1106.84\/oz, $1105.24\/oz, $1103.64\/oz
\nPsychological: $1100\/oz, March lows<\/p>\n

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

(click chart to enlarge)<\/p>\n

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

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regarded neither 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> 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 is adding onto Friday\u2019s gains after the precious metal popped back above its highly psychological $1100\/oz level in the wake of an EU agreement concerning potential financial aid for Greece.\u00a0 Gold followed positive risk trade money flows, indicating the precious metal\u2019s negative correlation with the Dollar is in full-effect.\u00a0 That … <\/p>\n

Continue reading “Gold Pops Back Above $1110\/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-8068","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8068","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=8068"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8068\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}