Overview Silver price tested the sideways range support line at 16.15, accompanied by a stochastic’s move at the oversold areas. This indicates the chances that the price will visit this range’s resistance at 16.80 in the upcoming sessions. Until now, silver is still trading sideways on the intraday basis until the price manages to breach […]
GOLD PRICES fell to 6-week lows against the Dollar but held firm against other major currencies in London trade Tuesday, extending its recent pattern into the first day of May. With China and most European financial markets shut for May Day, gold fell 0.4% to $1308 per ounce as the Dollar rose on the […]
Gold price is still in a down trend. Price remains below the $1,320-25 resistance area that if broken will be the first reversal signal. Support remains at $1,300-$1,310. Gold medium-term trend remains neutral as price is still inside the $1,365-$1,300 trading range. Gold price is showing bullish divergence signs. I expect Gold to provide a […]
GOLD and SILVER PRICES fell in London trade Monday, dropping to 6- and 4-week lows respectively against a rising US Dollar as world stock markets edged higher but commodities dropped. Brent crude oil fell to $73.50 per barrel – some $2 below last week’s 3.5-year highs – after new data showed a jump in US oil […]
Technical outlook: Silver daily chart view has been presented here for a bigger and clear wave picture. Silver had earlier dropped into 5 waves as labelled here between $17.70 to $16.10 levels, forming an impulse wave (1). Thereafter, silver had produced a 3 wave a-b-c counter trend rally that terminated into wave (2) of the […]
Technical outlook: Gold 4H chart presented here might be suggesting that t gold has either formed or is close to forming an interim low any time soon. As discussed on Friday, the metal might have already formed a low at $1,313 levels or should be looking to print yet another low around $1,310 levels, before […]
The gold price has broken above the downward sloping wedge pattern and is now back-testing it. Gold could make one more new lower low around $1,311 today before reversing its trend to the upside. The trend remains bearish as the 4-hour candlestick is still below both the tankan- and kijun-sen indicators. Red line – resistance […]
Overview Gold price continues to fluctuate around the 1316.48 level and attempts to break it, to keep the bearish trend scenario suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, reminding you that our next target is located at 1301.20, while holding below 1335.40 represents the most important condition to […]
Overview Silver price ended yesterday’s trading below 16.56, which brings the price back to the sideways range, the signs of which appear on the chart, where its lines represented by the 16.15 support and the 16.80 resistance. Therefore, we believe that the sideways track will dominate the intraday trading until the price manages to breach […]
GOLD PRICES fell back Friday after new US data showed strong GDP growth but slower inflation, putting the metal on track for its lowest weekly finish in six against the Dollar below $1318 per ounce. Adjusted for inflation, the world’s largest economy expanded at an annualized pace of 2.3% in the first 3 months […]
Recently, gold has been trading downwards. As I expected, the price tested the level of $1,314.86. According to the H4 time frame, I found a successful rejection of 21 exponential moving average in the background, which is a sign that sellers are in control. I also found ADX reading above 30, which is another sign […]
Technical outlook: Gold 4H chart has been presented here for a larger swing picture. After consolidating for past several weeks, the yellow metal finally peaked at $1,365.00 on April 11, 2018. Since then the story is of lower lows and lower highs and it is still expected to continue the same. Looking at the short […]
Almost zero volatility accompanied the currency trading overnight. AUD, NZD, and CAD have shown a minimum weakness to the USD, while the EUR slightly better. The stock market in Asia mostly continues the green cycle behind Europe and Wall Street. A boring night in oil and gold. On Friday 27th of April, the event calendar […]
The Gold price continues lower towards our $1,310 target. The trend remains bearish. Price is forming a bullish wedge pattern. I believe it is now time to close short positions and look for a Gold trend reversal at least for the short-term. Once Gold price breaks out above the wedge pattern, we will have our […]
Recently, the Gold has been trading sideways at the price of $1,322.00. Anyway, according to the H4 time-frame, I found strong supply in the background and weak buyers, which is a sign that buying looks risky. ADX indicator decreased on the rallies, which is a sign that buyers are weak. I also found a successful […]
Gold price, as expected, made a new lower low yesterday. The price remains in a bearish trend as it is still below the 4 hour and Daily cloud. However, we have some bullish divergence signs. This implies that maybe it is time for bears to take some profits. Gold has pulled back towards the upper […]
After the unsuccessful attempt to breakthrough the upper border of the medium-term trading range of $ 1300-1360 per ounce, the gold collapsed downwards on an unfavorable external background. The topic of the trade war in the context of rapid negotiations between Washington and Beijing no longer provides support for safe havens, while the shift in […]
Overview Gold price resumes its negative trading clearly in its way towards our main waited target at 1316.48, pointing that stochastic keeps providing negative signals that might motivate the price to break the mentioned level, then extend the bearish wave to reach 1301.20 as a next station. Therefore, we keep preferring the bearish trend for […]
Overview Silver price keeps its stability above the 16.56 level, noticing that stochastic gets rid of its negative momentum clearly to reach the oversold areas, which forms a positive factor that we are waiting to assist to push the price higher in the upcoming sessions, waiting to visit the 17.43 level. Therefore, we are waiting […]
GOLD BULLION fell to 5-week lows against a rising US Dollar in London trade Wednesday, dropping as world stock markets caught up with yesterday’s fall in New York’s stock market. Ahead of tomorrow’s policy decision from the European Central Bank, the Euro price of gold was unchanged around €1084 per ounce, little moved from […]
Recently, the Gold has been trading downwards. The price tested the level of $1,321.70. According to the H4 time – frame, I found a strong supply in the background and increase on ADX on the previous downswing, which is a sign that sellers are in control. The previous rally was on decreasing ADX, which is […]
Gold price bounced as expected yesterday, but the bounce was a shallow one. The price reached the broken short-term trend line support that was broken and back tested it. The price got rejected at the resistance previous support and is now back near the week lows. I expect the decline to stop around $1,310 and […]
Looking at how sensitively the currency and stock markets react to his twitter, Donald Trump decided to try the strength of his voice on raw materials. According to the US President, in circumstances when the storage facilities are flooded with oil to the very ears, OPEC artificially maintains very high prices. Brent and WTI reacted […]
GOLD MINING shares rose as the broader stock market rallied Tuesday while the rise in US bond yields paused with 10-year rates just shy of 3%. Gold bullion prices bounced $5 per ounce from yesterday’s 2-week low, touching $1328 as London opened for business. That left gold little changed around last Friday’s finish […]
Recently, the Gold has been trading downwards. As I expected, the price tested the level of $1,321.90. According to the H1 time – frame, I found a potential end of a bullish corrective phase, which is a sign that buying looks risky. The trend is still bearish and my advice is to watch for potential […]
The Gold price broke down yesterday to new short-term lows as expected. The Gold price has broken below both the 4-hour and Daily cloud support and below the upward sloping short-term trend line support. A bounce could be seen for a couple days but we remain bearish as long as the price is below $1,348. […]
The GOLD / SILVER RATIO rose from near 2-month lows in London trade on Monday as both metals fell against a rising Dollar after new US data beat analyst forecasts. With manufacturing activity and sales of existing homes both stronger than Wall Street predicted, world stock markets held flat as falling bond prices saw […]
Overview Gold is trading downwards steeply to attack 1,331.00 level and is moving below it now. This opens the way to continue the bearish bias for the rest of the day, activating the bearish scenario on the intraday basis. 1,316.48 is most likely to be tested. Therefore, the bearish trend remains valid for the upcoming […]
Overview Silver is still trading quietly with a downward bias on its way to test 16.56 level. As long as the price is holding above this level, our bullish overview remains valid, supported by the EMA50. Please note that breaching 17.43 is required to push the price towards 18.30 that represents our next main target. […]
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,329.00. According to the H1 time – frame, I found a breakout of the upward channel, which is a sign that sellers are in control. I also found a very consistent supply, which is another sign of weakness. My advice […]
