Technical analysis of Gold for July 30, 2015

The FOMC meeting did not put pressure on the precious metal at yesterday’s session. Gold closed with marginal gains well managing to hold above the support level. The yellow metal has been unable to prove its safe haven status during the Greek crisis. The FOMC meeting delivered strong signals for the rate hike this year. […]

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Technical analysis of Gold for July 30, 2015

Technical outlook and chart setups: Gold is virtually unchanged for last 2 trading sessions, trading at $1,093.00. The yellow metal might be preparing for a relief rally towards the level of $1,130.00, which is also the confluence of resistance trendline and fibonacci level of 0.618 of the drop from $1,167.00 to $1,075.00. It is recommended […]

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Technical analysis of Silver for July 30, 2015

Technical outlook and chart setups: Silver is seen to be trading around the levels of $14.75/77 at the moment, after having touched $14.90 yesterday. The metal is still expected to push higher through the levels of $15.00 and $15.30 respectively. Please note that the metal has pushed through the trend-line resistance (interim), and its 50-day […]

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Technical analysis of Gold for July 29, 2015

Technical outlook and chart setups: The yellow metal remains unchanged from yesterday, and is trading around the levels of $1,090.00/93.00 at the moment. Please note that the trade direction remains “sell on rallies” now. Note that $1,132.00 is fibonacci 0.618 resistance fo a drop between $1,167.00 and $1,075.00. It is therefore recommended to initiate short […]

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Technical analysis of Silver for July 29, 2015

Technical outlook and chart setups: Silver is trading aroundthe level of $14.70 at the moment, testing its 50-day simple moving average as seen on the H4 chart. Please note that a push through $14.80 would move the price towards $15.00, and $15.30 subsequently in coming trade sessions. It is hence recommended to remain long with […]

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Gold: analysis for July 29, 2015

Overview: Since our last analysis, gold has been trading sideways around the level of $1,096.00. According to the daily time frame, we can observe weak price action and small real body. According to the H1 time frame, a fake breakout of our support level at $1,086.00 is taking place in the background. The price got […]

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Binary.com Daily Market Report (29th Jul)

China Wobbles as Fed Eyes Hike Morning Report: 07.00 London • This morning, world stock markets are nipping back slightly after powerful gains yesterday. This comes amid increasing uncertainty around China as emerging market currencies hit 14 year lows.                             • The dollar index […]

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Gold technical analysis for July 29, 2015

Gold price continues to trade sideways in a short-term neutral trend. The price remains above recent lows, and we can identify a possible inverted head and shoulders pattern being formed with the neckline at $1,105. Green lines – IHS projection Blue line – long-term trend line resistnace Gold price continues to trade below the Ichimoku […]

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Technical analysis of Gold for July 29, 2015

Traders eye the FOMC meeting, which is due today. The metal has been consolidating in a tight range between $1,085.00 and $1,110.00. HSBC: Federal Reserve coming closer to the interest rate hike, a stronger dollar, low inflation, China’s and India’s weak demand for physical gold and other factors weigh on gold prices. Technical view: The […]

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Technical analysis of Gold for July 28, 2015

Technical outlook and chart setups: Gold is seen to be trading around the $1,095.00 levels at the moment looking to push through the $1,130.00/32.00 levels in the coming sessions. The yellow metal has been showing quite resilience around the $1,080.00 levels and note giving in to bearish setups for now, though it still remains a […]

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Technical analysis of Silver for July 28, 2015

Technical outlook and chart setups: Silver is seen to be trading around the $14.70 levels at the moment looking to push higher towards at least the $15.30/40 levels in the coming trading sessions. Please note that a Fibonacci convergence (resistance) is also seen around the $15.30 levels, as depicted here. It is hence recommended to […]

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Gold analysis for July 28, 2015

Overview: Since our last analysis, gold has been trading sideways around the price of $1,092.00. According to the daily time frame, we can observe a bearish bar in a volume above the average. According to the H1 time frame, we can observe a fake breakout of our support level at the price of $1,086.00. The […]

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Binary.com Daily Market Report (28th Jul)

Stocks Recover Early Wobble Morning Report: 07.00 London • This morning, stock markets in China have pared early losses, with the S&P pushing back towards the 200 period moving average.                             • The dollar index is unchanged as euro losses balance against dollar […]

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Gold technical analysis for July 28, 2015

Gold price tried to break above $1,100 yesterday, but sellers did not let it break above the short-term resistnace at $1,103. The price pulled back towards support of $1,090, and we saw some signs that a bigger bounce could unfold today or tomorrow towards $1,115-20. Blue line – trend line resistance Green lines – equal […]

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Technical analysis of Gold for July 28, 2015

Gold missed buying momentum at yesterday’s session and closed with losses. The metal erased most of its Friday’s gains yesterday. The output of the world’s largest gold ETF, SPDR Gold Trust holdings, stays flat at the level of 680.15 tons compared to the day before. HSBC: Federal Reserve coming closer to the interest rate hike, […]

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Gold analysis for July 27, 2015

Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,104.83. According to the daily time frame, we can observe an upward bar in a volume above the average (reversal up-thrust). According to the H1 time frame, we can observe fake breakout of our support level at the price […]

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Technical analysis of Gold for July 27, 2015

Technical outlook and chart setups: Gold is trading around $1,099.00 at the moment after hitting lows at the levels of $1,075.00/76.00 earlier. As depicted here, bears remains in control until prices stay in the sell zone, and broadly below initial resistance at $1,175.00. Please also note that $1,130.00/32.00 is the fibonacci 0.618 resistance level of […]

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Technical analysis of Silver for July 27, 2015

Technical outlook and chart setups: Silver is trading around the levels of $14.73/75 after hiving hit a low at $14.40 on Friday. The metal needs to reach at least the level of $15.00, to confirm an intermediary low. Bottom is formed. It is recommended to exit long positions and remain flat for now, waiting for […]

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Gold technical analysis for July 27, 2015

Gold price has given bullish reversal signals today by breaking out of the short-term bearish channel. My overall longer-term view remains bearish, but in the short-term we could see a bigger bounce towards $1,120-30. Black lines – short-term bearish channel Blue line – long-term trendline resistance Blue area -bounce target Gold price is trading below […]

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Forecast of Gold for July 27, 2015

Bulls managed to arrest a 2-day losing streak, closed with a $9 gain at Friday’s session. Finally, the metal fell back to the financial crisis level. IMF data: German gold reserves reduced by 2.395 tons to 3381.120 tons in June 2015. Kazakhstan gold reserves increased 2.248 tons to 205.667 tons in June. Russia’s gold reserves […]

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Binary.com Daily Market Report (27th Jul)

Euro Rallies as Dollar Retreats Morning Report: 07.00 London • This morning, the S&P 500 is on the front foot, while the dollar retreats – a divide that appears to be corresponding with a general ‘risk-on’ trend across the board.                                 […]

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Gold : analysis for July 24, 2015

Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,077.13. According to the daily time frame, we can observe a downward bar in a volume above the average. According to the H1 time frame, we can supply in a volume above the average. Sellers are in control on […]

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Technical analysis of Gold for July 24, 2015

Technical outlook and chart setups: Gold has dropped lower again hitting a low of $1,076.00 in the early hours today. The yellow metal remains vulnerable to further bearish targets and there is no sign of a meaningful pullback. Please note that downside potential remains until at least $1,050.00 and $1,030.00 subsequently. It is hence recommended […]

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Technical analysis of Silver for July 24, 2015

Technical outlook and chart setups: Silver is trading at the level $14.60 at the moment after it tested a low of $14.50. As depicted here, the metal might be forming a potential double bottom around these levels. A break above $15.00 would confirm that the meaningful bottom is in place. Furthermore, the indicators are showing […]

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Technical analysis of Gold for July 24, 2015

The yellow metal extends falling at yesterday’s session as well. The metal is trading below $1,100 for the first time in more than five years; gold prices are 42% down. In the week ending July 18, advanced figures for seasonally adjusted initial claims came out at 255,000, showing a decrease of 26,000 compared to the […]

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Gold technical analysis for July 24, 2015

Gold price remains in a bearish trend making lower lows and lower highs after bouncing towards $1,118 earlier this week. The decline continues, although the price managed to break above $1,100 yesterday. The bounce was weak and sellers regained control and pushed the price to new lows. Black lines – short-term bearish channel Blue line […]

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Gold Hits a 5-Year Low: How to Time the Next MAJOR Bottom

“In what traders called a ‘bear raid,’ sellers on Monday dumped an estimated 33 tonnes of gold in just two minutes on exchanges in Shanghai and New York, sending prices on a nearly $50 downward spiral from which they never fully recovered.” (Reuters, July 21) If you live in the U.S., maybe you’ve noticed lately […]

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Binary.com Daily Market Report (24th Jul)

Greece Passes Debt Vote – Markets Yawn Morning Report: 07.00 London • This morning, commodities continue to struggle after Chinese PMI came in below expectations. Gold is on the back foot and testing the Monday lows. At the same time, oil continues to sit below the $50 marker.                 […]

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Gold: analysis for July 23, 2015

Overview: Since our last analysis, gold has been trading sideways around the level of $1,095.00. According to the daily time frame, we can observe a weak downward bar in a high volume, so selling at this stage looks risky. According to the H1 time frame, we can observe low volatility and weak price actions. Since […]

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Technical analysis of Gold for July 23, 2015

Technical outlook and chart setups: Gold is seen trading around the $1,100.00/01.00 levels at the moment after having tested recent lows at the $1,085.00/87.00 levels again yesterday. The metal might consolidate in this range for a while before breaking lower towards the $1.050.00/30.00 levels. It is hence recommended to remain flat for now and look […]

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