{"id":8540,"date":"2010-04-13T14:50:03","date_gmt":"2010-04-13T18:50:03","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8540"},"modified":"2010-04-13T14:50:03","modified_gmt":"2010-04-13T18:50:03","slug":"gold-yields-to-1150oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/13\/gold-yields-to-1150oz\/","title":{"rendered":"Gold Yields to $1150\/oz"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has hit by profit taking as investors send the precious metal back to its psychological $1150\/oz level after it nearly hit $1170\/oz on the heels of the EU\u2019s aid offer to Greece.\u00a0 We are witnessing a bit of risk-aversion across the board as the Dollar appreciates, dragging gold lower with it due to correlative forces.\u00a0 With concerns about Greece abating investors will now turn their attention to U.S. data and earnings.\u00a0 Alcoa started the season off on a low note by missing estimates.\u00a0 Intel will lead the tech sector and investors will also receive Retail Sales and CPI data tomorrow, meaning activity could pick up over the next 24-48 hours.\u00a0 Meanwhile, it will be interesting to see whether gold begins to follow its negative Dollar correlation with EU uncertainty calming.\u00a0 Regardless, gold is still locked into its new uptrend barring a significant technical setback.\u00a0 Meanwhile trend lines are still sitting far off in the distance with a multitude of uptrend lines willing to step in should the precious metal continue to pullback over the near-term.<\/p>\n

Technically speaking, gold faces topside technical barriers in the form of intraday, 4\/12, and 12\/08 highs.\u00a0 Additionally, the $1170\/oz area could serve as a technical barrier should it be tested.\u00a0 As for the downside, gold has fresh uptrend lines serving as technical cushions along with intraday, 4\/8,and 4\/7 lows.\u00a0 Additionally, the psychological $1150\/oz area could serve as solid supports over the near-term<\/p>\n

Present Price: $1149.05\/ oz<\/p>\n

Resistances: $1149.72\/oz, $1151.01\/oz, $1152.30\/oz, $1153.73\/oz, $1154.94\/oz, $1156.14\/oz<\/p>\n

Supports: $1147.57\/oz, $1146.57\/oz, $1145.57\/oz, $1144.47\/oz, $1143.42\/oz, $1141.55\/oz<\/p>\n

Psychological: $1170\/oz, $1160\/oz, $1150\/oz, 2010 highs and April 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 has hit by profit taking as investors send the precious metal back to its psychological $1150\/oz level after it nearly hit $1170\/oz on the heels of the EU\u2019s aid offer to Greece.\u00a0 We are witnessing a bit of risk-aversion across the board as the Dollar appreciates, dragging gold lower with … <\/p>\n

Continue reading “Gold Yields to $1150\/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-8540","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8540","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=8540"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8540\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}