{"id":8754,"date":"2010-04-22T13:10:36","date_gmt":"2010-04-22T17:10:36","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8754"},"modified":"2010-04-22T13:10:36","modified_gmt":"2010-04-22T17:10:36","slug":"gold-back-to-1140oz-after-1150oz-test","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/22\/gold-back-to-1140oz-after-1150oz-test\/","title":{"rendered":"Gold Back to $1140\/oz after $1150\/oz Test"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; Gold was unable to break through its highly psychological $1150\/oz level and the precious metal is back to the $1140\/oz area.\u00a0 Conditions in the EU certainly aren\u2019t helping gold\u2019s cause right now.\u00a0 Greek bond yields hit an all-time high as EU budget deficits widen.\u00a0 Uncertainty in the EU has led investors away from the risk trade and towards the dollar, a negative for gold due to correlative forces.\u00a0 U.S. unemployment claims remain above 450k and that isn\u2019t benefitting the risk trade either.\u00a0 Meanwhile, investors are awaiting U.S. existing home sales.\u00a0 If today\u2019s housing data comes in strong this could ebb the risk-averse flows.\u00a0 On the other hand, weak existing home sales could boost the dollar further and weaken gold.\u00a0 The data train will keep on rolling tomorrow with key releases from across the globe, including UK prelim GDP, Germany\u2019s Ifo business climate, and durable goods figures.\u00a0 Additionally, the U.S. will provide new home sales, filling out the housing picture.<\/p>\n<p>Technically speaking, gold has managed to avoid a retest of April 21 highs so far, a positive development for the near-term.\u00a0 Speaking of which, gold has 4\/21, 4\/20, and 4\/19 lows serving as technical cushions along with multiple uptrend lines.\u00a0 As for the topside, gold faces multiple downtrend lines along with the psychological $1150\/oz level.<\/p>\n<p>Present Price: $1139.95\/ oz<br \/>\nResistances: $1140.70\/oz, $1141.47\/oz, $1142.43\/oz, $1143.11\/oz, $1144.07\/oz, $1145.03\/oz<br \/>\nSupports: $1139.54\/oz, $1138.87\/oz, $1138.20\/oz, $1137.33\/oz, $1135.79\/oz, $1134.83\/oz<br \/>\nPsychological: $1150\/oz, $1140\/oz, $1130\/oz, April highs and lows<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April22gold.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April22gold.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast                  Brokers<\/strong>.<\/a><\/p>\n<p><strong>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<p><strong>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":"<p>By Fast Brokers &#8211; Gold was unable to break through its highly psychological $1150\/oz level and the precious metal is back to the $1140\/oz area.\u00a0 Conditions in the EU certainly aren\u2019t helping gold\u2019s cause right now.\u00a0 Greek bond yields hit an all-time high as EU budget deficits widen.\u00a0 Uncertainty in the EU has led investors &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/22\/gold-back-to-1140oz-after-1150oz-test\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Back to $1140\/oz after $1150\/oz Test&#8221;<\/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-8754","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8754","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=8754"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8754\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}