Dollar Beats a Retreat as China Steadies Morning Report: 06.30 London • This morning, markets are steady, helped by some reassurance in the form of better than expected Chinese manufacturing data and Australian building approvals. The Dollar index is set for its third negative day in a row after less than impressive US data on Friday. […]
Overview Silver prices declined yesterday to approach the key support at 15.40. The price moves inside a minor bearish channel, which appeared on the chart. We believe that it forms a bullish continuation flag pattern that we are waiting to assist in enabling the price to resume the bullish correctional trend. Stochastic produces a positive […]
Overview: Since our last analysis, gold has been trading downward. As we expected, the price tested the level of $1,144.60. The intraday and short-term trends changed from upward to downward. In the daily time frame, we can observe a strong supply bar in a high volume. In the H1 time frame, we can observe a […]
Gold price continues moving lower as expected by our latest analysis towards support of $1,140-20. A trend is bearish in the short-term and I would remain neutral as stochastics have not reached oversold levels yet in the daily chart. Green rectangle – impulsive move area Blue rectangle – corrective move area Blue line – price […]
Yen Volatility On BoJ Morning Report: 06.30 London • This morning, markets are generally quiet, with the USD/JPY displaying some whippy behaviour around the latest BoJ statement. The outlook is generally positive, though there were enough negative caveats to keep the USD/JPY in check. • The US Dollar index slipped from the highs yesterday after US GDP […]
Crude futures lost ground Friday following US economic growth slowed sharply in the third quarter, renewing woes about sluggish demand. The Commerce Department reported gross domestic product grew at an annualized pace of 1.5%, from 3.9% in the second quarter. US crude closed at $45.89 a barrel, down 17 cents. Brent crude settled at $48.71 […]
Technical outlook and chart setups: Gold dropped lower towards $1,145.00 as expected and discussed earlier. The yellow metal has reached its Fibonacci 50% support at the above levels as seen here. Please note that the metal still has room to correct lower towards Fibonacci 0.618 support around the levels of $1,138.00. It is hence recommended […]
Silver traded with a clear positive tendency yesterday, but the price found a strong resistance formed by 61.8% Fibonacci correction at the level of 16.30, which forced the price to bounce lower and return within the symmetrical triangle shown in the image. It is pointing out that stochastic has got rid of its negativity and […]
Overview: Since our last analysis, gold has been trading downward. The price tested the level of $1,152.13. The intraday and short-term trends changed from upward to downward. In the daily time frame, we can observe an strong supply bar in a high volume. In the H1 time frame, we can observe a volume spike (massive […]
Gold price made a fake breakout yesterday and a sharp reversal below $1,160. Prices reached $1,152 with volatility spiking. Gold price is in a corrective phase that can bring the precious metal back in the area of $1,140-20. A new up trend similar to the rise from $1,100 to $1,190 should then follow. Green rectangle […]
December Fed Still Alive Morning Report: 06.45 London • This morning, markets are still absorbing yesterday’s FOMC meeting outcome. The Fed surprised many market watchers by implying that the December meeting was very much alive. Markets are now implying a 45% chance of a December hike against previous expectations of around 37%. The dollar index shot […]
Gold prices dropped sharply Thursday, a day following the Federal Reserve kept short-term interest rates unchanged but left the door open to December rate hike. Gold for December delivery closed at $1,159.30 an ounce, down 1.5%. The yellow metal touched its one-week high Wednesday but fell after the release of Fed statement. Meanwhile, December copper […]
Technical outlook and chart setups: Silver moved through $16.30/40 yesterday before pulling back lower again. The metal trades just below $16.00 at the moment and might be looking for an opportunity to produce a meaningful correction lower towards $15.00/20 before the rally could be resumed. It is hence recommended to remain flat and look for […]
Technical outlook and chart setups: Gold has yet again dropped to its previous support of $1,160.00 after testing highs at $1,181.00. Please note that the yellow metal could still drop to its Fibonacci 0.618 support at $1,138.00/40.00 before moving towards the levels of $1,200.00 and $1,230.00. An uptrend, which began from $1,080.00, remains intact until […]
Technical outlook and chart setups: Gold is seen to be trading around the $1,172.00 levels for the moment, still being well below initial resistance at the $1,180.00 levels. If the yellow metal holds the $1,180.00 levels, the next leg should be lower towards $1,138.00. Please note that the drop would still be considered to be […]
Technical outlook and chart setups: Silver is moving higher and is seen to be trading around the levels of $16.06. The metal, if trades above $16.10, could move through the levels of $16.50/60 before performing a meaningful correction. It is hence recommended to remain flat and watch for the metal to correct lower before placing […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,172.00. The short- and mid-term trend changed from neutral to upward. In the daily time frame, we can observe an upward bar in an average volume. In the H1 time frame, we can observe a volume spike (massive selling […]
Aussie Inflation Trimmed Morning Report: 06.45 London • This morning, markets are generally on pre-fed alert, with the Dollar index continuing to dominate currency flows. Continued declines in commodity prices such as oil have helped underpin a general perception that the Fed could slow its path of interest rate hikes, if not delay entirely in December. […]
Gold price is showing some bullish signs. It is trying to break above the short-term bearish channel and if this breakout happens, we should expect gold price to move above $1,190 closer to $1,200 to reach a new higher high in October. Black lines – bearish channel Gold price has bounced off the 38% Fibonacci […]
Overview Silver price continues to fluctuate near 15.85. The price confines within a symmetrical triangle pattern that appears in the chart therefore breaching the resistance level of this pattern at 16.05 will provide a continuation of a bullish trend on a short-term basis. Its next targets is seen at 16.85. We observe an attempt to […]
Technical outlook and chart setups: Silver has remained unchanged from yesterday trading flat around the $15.85 levels at the moment. Please note that the metal is facing resistance around the 50-day moving average for now. A push lower could see $15.30 in the coming sessions. It is hence recommended to remain flat or aggressive setup […]
Technical outlook and chart setups: Gold is seen to be trading in a very tight range since last 2-3 trading sessions between $1,162.00 and $1,170.00 as seen here. The yellow metal still has a potential to drop lower towards the $1,137.00/40.00 levels before turning bullish again. It is hence recommended to remain flat for now […]
The Pre-Fed Quiet Morning Report: 06.30 London • This morning sees the start of the two day October FOMC meeting. No change is expected this month as December is seen as the big game changer. Still, markets are finely poised right now so any deviation from the expected script of a hike next month could see […]
Gold price remains inside the short-term bearish channel. A short-term trend is neutral. The price remains above short-term support but there is no clear direction in the nearest term. The level of $1,200 is still a feasible target if bulls manage to break above $1,180. Red lines – bearish channel Gold is trading inside the […]
Overview: Since our last analysis, gold has been trading sideways around the level of $1,164.00. The short- and mid-term trend changed from upward to neutral. In the daily time frame, we can observe a neutral bar in a high volume. In the H1 time frame, we can observe a volume spike (massive selling climax) in […]
Overview The silver price has returned to fluctuate near the 15.85 level and the EMA50 after the Friday positive attempt. Stochastic has gained good positive momentum in the four-hour time frame, and it has begun generating positive overlapping signals that we wait for to motivate the price to resume the bullish trend. Therefore, we keep […]
Technical outlook and chart setups: Gold dropped lower to the $1,160.00 levels last Friday producing a bearish engulfing candlestick pattern and thus indicating further downside. The metal is pulling back for now, but intraday rallies should be capped below the $1,180.00 levels for now. It is recommended to remain flat for now and initiate long […]
Technical outlook and chart setups: Silver has dropped from the sub-levels $16.00 earlier as expected. Intraday rallies are now to remain capped well below the $16.10 levels, which is interim resistance. As shown here, the metal might be unfolding a correction (3 waves), which could end around the $15.00 levels. It is hence recommended to […]
Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,158.76 in a very high volume. The short- and mid-term trend changed from upward to neutral. In the daily time frame, we can observe a neutral bar in a high volume. In the H1 time frame, we can observe […]
Gold price remains inside the bearish short-term channel despite an attempt to move upwards last week to exit the channel. A short-term trend remains bearish as prices have reached our target area of $1,195 plus or minus $5 and reversed. Gold could now be heading towards $1,120 again but bulls could still get another chance […]
