Gold price bounced yesterday as the US dollar weakened after the ECB’s president press conference. But the bounce was very weak relative to weakness in the greenback . Today’s NFP number will play a major role in what we should expect over the coming weeks for gold. Gold continues to provide bullish divergence in the […]
Technical outlook and chart setups: Silver is testing its immediate trend-line resistance of $14.10 at the moment. Please note that the metal had bounced back after hitting lows around $13.82 earlier. Resistance is seen at the fibonacci 0.786 level now. A breakout above the trend line and subsequently above $14.25/30 in coming sessions could encourage […]
Technical outlook and chart setups: Gold has retraced back to the level of $1,062.00/65.00 after reaching fresh lows at $1,046.00 earlier. The yellow metal faced resistance at $1,075.00, and until the resistance holds good, bears are expected to gain control and push prices lower towards $1,030.00 and subsequently towards $999.00. It is hence recommended to […]
Technical outlook and chart setups: Gold is trading around the level of $1,054.00 now after having dropped lower towards $1,046.00 earlier. The metal might be willing to gain support at the level of $1,030.00, the multi year resistance turned support on the weekly charts discussed earlier. It is hence recommended to remain flat for now […]
Technical outlook and chart setups: Silver broke down yesterday and hit another low at the level of $13.82. The metal is trading around $13.92 at the moment with immediate resistance at $14.20/30. The metal needs to break above the immediate resistance to come back into the buy zone. It is too late to initiate short […]
Overview Silver price managed to break the bearish pennant pattern that appears in the above chart providing good negative motive, which supports the continuation of the main bearish trend. The price is now making attempts to confirm breaking the previously recorded bottom at 13.96, affected by the continuous negative pressure that comes from the EMA […]
Overview: Since our last analysis, gold has been trading downwards. As I had expected, our profit target at $1,046.21 was met. In the daily time frame, I found a strong supply bar and rejection from our SMA 10. In the M30 time frame, as I had expected, the price reacted from intraday support at $1,046.00. […]
Gold price reached a new lower low yesterday after breaking the short-term support at $1,060-65. Besides, it has reached our lower end of the target area touching $1,046. I continue to expect a big bounce towards $1,120-30 and I continue to believe this is not the time to be short or sell gold. This is […]
All Eyes on ECB Morning Report: 06.15 London • The Euro is slightly on the back foot this morning ahead of the big ECB meeting after midday. Headline rates are expected to stay at 0.05%, but a Quantitative Easing extension could be on the cards. […]
Workers at Iamgold Corp’s Rosebel gold mine in Suriname went on a strike over the laying off of about 10% of its employees, the company said. Mid-sized Canadian-based miner Iamgold said Rosebel had followed the process which the law required for the lay-offs, offering a fair severance package, which more than 50% of affected employees […]
Overview: Since our last analysis, gold has been trading downwards. As I expected, the price tested the level of $1,059.94. In the daily time frame, I found a weak demand bar and rejection from our SMA 10. Our strong support around the levels of $1,075.00-$1,080.00 has become the strong resistance (changing polarity) now. In the […]
Technical outlook and chart setups: Gold is trading around the levels of $1,066.00/67.00 now, absolutely flat from where it was seen yesterday. Please note that the metal is testing its immediate resistance line calling for a breakout to confirm that the metal is heading towards the resistance level of $1,080.00 and higher. It is recommended […]
Technical outlook and chart setups: Silver is trading around the $14.15 levels and has held on the lows at the $13.90 levels until now. Besides, the metal has formed a bullish morning star candlestick pattern on the daily chart, indicating a potential reversal. But for today, prices have remained stagnant around the $14.10/15 levels and […]
Markets may rise or fall, but there’s always a demand for gold. Even in declining gold markets – which we have seen over the last few years – many investors still prefer to have a portion of their portfolio in gold. Here’s why. Gold can never lose its entire value Companies go broke, and so […]
Gold price, as expected, has started a 3-wave corrective pullback after finishing 5 waves up from $1,052. I believe we should expect more upside in coming days. We are not sure yet if the low we have seen is long-term one, but the price range of $1,050-950 the area where a long-term low will be […]
Dollar Readies For ADP Payrolls Morning Report: 06.15 London • Hopes are high for strong US jobs data in today’s ADP payrolls ahead of Friday’s Non Farm Payrolls. The US Dollar came under pressure these last two days, but is nudging higher again today with an ADP gain of 191k expected. […]
Overview The silver price shows confined sideways trading between the EMA50 and the critical support at 13.96, waiting for breaking this level to confirm the continuation of the main bearish trend, which targets 13.50 and then 13.00 mainly. The silver price fluctuates near the EMA50, while stochastic reaches the thresholds of the overbought levels. It […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,074.45. In the daily time frame, I found a demand bar and inside-bar formation. Our SMA 10 is now on the test. Our strong support around the levels of $1,075.00-$1,080.00 has become the strong resistance (changing polarity) now. In […]
Gold price has made 5 waves up from recent lows of $1,052 to just below $1,075. A three wave pullback is expected and then another leg upwards towards at least $1,090. Gold might be in the process of a long-term bottom formation, so bears should be very cautious. A new lower low towards $1,020-40 cannot […]
Technical outlook and chart setups: Gold has rallied to the level of $1,075.00 during the day and is expected to take out resistance at $1,080.00 as well, after a dip fall at $1,066.00. The metal is testing its immediate line of resistance as seen on the chart, and a breakout here will be the first […]
Technical outlook and chart setups: Silver holds $13.93 now trading around the level of $14.19. A trend still can change from current levels due to the divergence seen in both metals last week. Bulls should be poised to push prices towards $15.00 until Silver stays above $13.93. It is hence recommended to initiate long positions […]
Chinese Manufacturing (Mostly) In Line Morning Report: 06.15 London • This morning, the Australian Dollar is flying high after mostly in line Chinese Manufacturing data, with Australian rates staying unchanged at 2.00%. The NZD/USD is following the Aussie higher. • Elsewhere, the Euro is under performing […]
Overview The silver price shows some slight bullish bias approaching the EMA50, while stochastic continues losing its positive momentum gradually approaching the overbought areas. It supports the chances of bouncing bearishly to resume the main bearish trend. Therefore, our bearish overview will remain valid for the rest of the day conditioned by holding below the […]
Technical outlook and chart setups: Gold had broken below the cone consolidation last week and dropped to print fresh lows at the $1,052.00 levels, beyond our expectations. The metal is trading close to its multi-year resistance turned into support area around $1,030.00 now. As depicted here, resistance is seen at the $1,080.00 levels and immediate […]
Technical outlook and chart setups: Silver is seen to be trading at the $14.11 levels for now, holding above its recent lows at $13.93. The metal has just went towards $14.40 levels last week before dropping, and the level of $13.93 holds well. A bullish reversal could be possible soon. It is recommended to remain […]
Overview: Since our last analysis, gold has been trading downwards. As I had expected, the price tested the level of $1,052.56. In the daily time frame, I found a supply bar and rejection from the SMA10. Our strong support around the levels of $1,075.00-$1,080.00 has become strong resistance (changing polarity) now. In the M30 time […]
On Friday, gold price broke the triangle formation we mentioned last week and moved closer to our target area of $1,050-40. Gold is oversold sending bullish divergence signals and a bounce towards at least $1,105 is expected. Red lines – triangle broken downwards Blue line – bullish divergence Gold price remains below the Ichimoku cloud […]
Kiwi Leads Despite Dollar Domination Morning Report: 06.15 London • This morning, the NZD/USD the leading gainer on a slow Monday after New Zealand ANZ business confidence came in above expectations. The Australian Dollar is riding on the move’s coat tails, helped by strong company operating profits. […]
Overview Silver price crawls gradually to the downside to approach from 13.96 level. We are waiting for a break of the mentioned level to open the way towards 13.50 followed by 13.00. Therefore, we will continue suggesting the bearish trend on an intraday and short-term bases supported by the EMA50, unless breaching the 14.85 level […]
The price of oil spiked on Tuesday after Turkey shot down a Russian fighter jet for allegedly violating Turkish airspace, sending investors into a panic about a growing geopolitical crisis between Russia and NATO. Background Mideast tensions reached a boiling point on Tuesday after Turkish forces shot down a Russian warplane near the Syrian border. […]
