Gold price has reached our target of $1,250-60 as we mentioned in our recent posts since price was trading just above $1,215. Now it is time for a pullback as price has reached important resistance levels. A shallow retracement will be a bullish sign. A sharp decline could be the start for a final decline […]
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,248.84. The price is heading higher since the breakout of a flat base in the background. My advice is to watch for buying opportunities. The upward target is set at the price of $1,264.50 (Fibonacci retracement 61.8%). Resistance levels: R1: […]
Short-term trend has changed to bullish in Gold as price has broken out of the 4-hour cloud resistance as expected. Gold price is approaching our target area of $1,250-60 where the important medium-term resistance is found. Blue lines – bearish channel (broken) Gold price is breaking out above the Ichimoku cloud on the 4-hour chart. […]
Overview The gold price keeps its stability above 1,229.32 levels and above the correctional bearish trend resistance keeping the bullish trend active for today. The price is likely to test 1,254.56 levels initially. A breach of this level will open the way to head towards 1,295.37 as the next main station. Therefore, we will continue […]
Overview The silver price settles above 16.56 levels. The 16.80 barrier is still forming an obstacle against the price attempts to rise, while stochastic attempts to get rid of its negativity and gain the positive momentum on the four-hour time frame. Therefore, the bullish trend scenario will remain suggested in the upcoming period unless breaking […]
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,237.34. Anyway, I still epxect higher price. Today I found an open and dive type of trading, which is a bullish session type. In the background, I found a broken trading range, which is another sign of strength. The price […]
Gold price is trading in a neutral zone inside the 4-hour Kumo. Trend has changed to neutral and price has bounced as we expected from the support area of $1,210-20. Blue lines -bearish channel Gold price has broken out of the bearish channel. Short-term resistance is at $1,242 and next at $1,250-60. As long as […]
Recently, Gold has been trading sideways at the price of $1,228.00. According to the daily time frame, I found a broken sideways range today, which is a sign that selling looks risky. I also found hidden bullish divergence on the 2-period rate of change, which is another sign of strength. My advice is to watch […]
Gold price as expected has bounced off the $1,210-20 support area and is breaking out of the bearish channel. Price could make a pullback early this week and provide a double bottom but overall I’m pretty confident the bounce towards $1,250-60 has started. Blue lines – bearish channel Gold price is trading below the 4-hour […]
Overview Gold price is fluctuating near the initial resistance of 1,229.32, which is met by the EMA50 to add more strength to it, while stochastic is approaching from the overbought areas now. Therefore, these factors encourage us to expect the bearish trend in the upcoming sessions. The first target is represented by testing 50% Fibonacci […]
Overview Silver price breached the minor bearish channel resistance, which might push the price to test the key resistance ceiling at 16.56 before turning back to resume the bearish trend again. As we notice the EMA50 keeps putting downward pressure on the price, while stochastic reaches the thresholds of the overbought areas. Therefore, we will […]
Gold price is bouncing and trying to break out of the bearish channel. Trend remains bearish as price is below the 4-hour Kumo. Important resistance levels ahead at $1,245 and at $1,260 must be broken so that the bullish scenario of $1,300-$1,400 is realized. Blue lines – bearish channel Gold price is breaking above the […]
Spot gold has seen a substantial 5% retracement since mid-April as it neared a significant resistance level at $1300. The French election outcome has lifted markets’ “risk-on” sentiment and resulted in safe heavens retreating which has weighed on gold prices. The FOMC meeting has left the door open for a June rate hike which has […]
Gold price is still trading above $1,200-$1,210. Judging by the divergence signs, we suppose a bounce to at least $1,260 is very close. Blue lines – bearish channel Red lines – bullish divergence Gold price remains in a bearish trend but is trying to break above the kijun-sen indicator on the 4-hour chart. Price remains […]
Overview Gold price has been fluctuating within a tight range since morning, keeping below 1,229.32. Please note that stochastic is losing its positive momentum gradually to reach the borders of the overbought areas. This supports the chances of a bearish reversal to resume the bearish trend. To keep the decline expected for the near sessions, […]
Overview Silver price did not show any strong move since morning. So the metal is still hovering near 16.00 level, while stochastic is approaching from the overbought areas. This creates a negative factor that will make the price resume the bearish bias in the short term. To keep the bearish trend scenario valid for today, […]
Recently, gold has been trading upward. The price tested the level of $1,225.65. Anyway, I found a false breakout of yesterday’s high, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. I also found a reversal bar on the 30M time frame, which is another sign of […]
Gold price continues to make lower lows and lower highs. Trend remains bearish. Gold has limited downside. I still prefer bullish positions at the current levels. Blue lines – bearish channel Despite being still inside the bearish channel and below both the tenkan- and kijun-sen, the RSI divergence signals that gold is just above previous […]
Overview The gold price has been showing slightly negative trading in attempt to pull away from 1,229.32 levels, thus keeping the bearish trend expectations for today. If the price settles below the mentioned level, a breach of it will push the price to test the most important resistance for the short-term trading between 1,245.30 and […]
Overview The silver price made negative attempts this morning after retesting the previously broken support for the bearish pennant flag pattern. This supports the continuation of our bearish trend expectations for targeting 15.49 as the next main station efficiently in the upcoming sessions. You should be aware that after suffering the expected negative pressure the […]
Gold price is trading around $1,220-$1,210 support area and the downside is limited currently. Price is expected to make a strong move higher at least towards $1,260. Blue lines – bearish channel Gold price is trading below the 4-hour Kumo (cloud) and has short-term resistance at $1,237 and next at $1,260. Trend is still bearish. […]
Recently, Gold has been extending losses. The price tested the level of $1,220.91. Anyway, according to the Daily time frame, I found a successful test of the previous swing low and a gap filled, which is a sign that selling looks risky. Also, the RSI looks oversold and my advice is to watch for potential […]
Overview Gold price has not shown any strong move since morning. The metal is still fluctuating around 1,229.00. Thus, we do not expect any change in the bearish scenario that depends on holding below 1,244.00 and 1,250.00 levels. We are waiting for the target of 1,208.92 as the next main station. Please note that breaking […]
Overview Silver price is confined inside bearish pennant’s pattern, which means that breaking this pattern’s support at 16.25 will enable the price to resume the bearish trend, as the next target is located at 15.49. Therefore, the bearish scenario will remain dominant in the near term, supported by the negative pressure formed by the EMA50. […]
Gold price made a lower low in early Asian trade this morning but the RSI is showing some glaring divergence signs. Gold price reversed sharply upwards implying that the downside is most probably limited and a bounce has started. Gold is oversold and is showing divergence signs in the both RSI indicators. Price is trading […]
Overview Gold price has fallen under more negative pressure to fluctuate below 1,230.00 barrier now. This supports ta further decline on the intraday basis. We are still waiting for the 1,211.31 level to be tested as the next main target. Please note that the EMA50 keeps supporting the expected bearish wave. Therefore, we are waiting […]
Overview Silver price is showing more decline to move away gradually from 16.56 level. This reinforces the expectations of a further decline in the short term. The way is open towards 15.49 that represents our next main downward target. Therefore, the bearish trend will remain valid on the intraday and short-term basis, supported by the […]
Gold price has broken to new lows yesterday but is very close to making an important bottom reversal if it has not already bottomed. Gold price should bounce at least towards $1,260-70. There are many signs of bullish divergence and similar to when Gold was at $1,194. Gold continues to trade below the Ichimoku cloud […]
The crucial US labour market data for April will be released this Friday May 5, at 13:30 BST. It includes non-farm payrolls, unemployment rate and average hourly earnings. Please note that the release of US labour market data will likely cause volatility for USD, USD crosses and commodities. Spot gold has retraced around 3.6% since […]
Gold price broke below short-term support and is now testing a weekly cloud and technical support at $1,235. This is a great opportunity and a gift for Gold bulls as I believe the low we are about to make will be of equal importance to $1,180 and $1,194. Blue lines – bearish channel Green rectangle […]
