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 […]
Gold price is challenging important Daily support at $1,333-28. Short-term trend is bearish as price has broken below the 4hour cloud. Gold price has seen multiple rejection at $1,355-65 area and every attempt to break the long-term resistance has been met with selling pressures and price reversals. Bulls continue to hope for a bullish break […]
GOLD slipped Friday in London but silver prices spiked to 11-week highs as US President Donald Trump berated the Opec oil cartel for “artificially” pushing energy prices up to 4-year highs by discussing new output cuts. Asian stock markets fell but Europe held flat on the day, keeping the Stoxx Europe 600 Index unchanged […]
Overview Gold price is showing a calm decline to test the key support of 1,335.40, accompanied by stochastic reach of the oversold areas. This provides positive impetus that is expected to push the price to rise again and resume the main bullish trend. Therefore, the bullish trend will remain valid for the nearest sessions, conditioned […]
Overview Silver price apoprached our first upward target at 17.43, showing sideways trading now that is affected by stochastic weaker momentum. However, the EMA50 is still supporting the price from below, which keeps the chances valid to continue the rise in the short term. Therefore, we still suggest the bullish trend unless breaking 16.56 level […]
Gold price is testing short-term support at $1,338-40 area. Price remains inside the multi week trading range of $1,300-$1,365. Gold made a double top at $1,355 and reversed back down canceling the breakout above $1,351 earlier this week. Red lines – trading range Black line – short-term support Gold price is trading around the 4hour […]
Overview The gold price traded upwards yesterday and has settled near 1,350.00 levels now, supported by the EMA 50. To see if the price keeps the bullish trend in the upcoming sessions, we are waiting for the test of the previously recorded top at 1,365.97 as the next station. We remind you that a breach […]
Overview The silver price rallied upwards strongly yesterday, breaching and settling above 16.80 levels. It ended the sideways trading that started in early February. The way towards positive targets that start at 17.43 is open now. Therefore, the bullish trend is expected in the upcoming sessions conditioned by the price stability above 16.80 and 16.56. […]
SILVER PRICES extended their sharp rally in London trade Thursday, reaching new 11-week highs for US investors at $17.30 per ounce while gold edged back from an overnight rise. Tokyo and Shanghai’s stock markets closed the day higher, but other major equity markets held flat as base metals and crude oil pushed the CRB […]
Recently, Silver has been trading upwards. The price tested the level of $17.28. According to the Daily time – frame, I found a breakout of horizontal base (50 days), which is a sign that buyers are in control. I also found a strong Relative Strength reading, which is another sign of strength. My advice is […]
