Overview Silver price resumes its bullish attempts to move to $16.56. Meanwhile, the metal aims to surpass this barrier, this will reinforce our expectations of extending the bullish wave towards $17.43. The price receives support from the EMA50, that reinforces the bullish scenario. Therefore, we still expect the bullish trend in the short term, unless […]
Recently, gold has been trading upwards. The price tested the level of $1,167.60 in a high volume volume. According to the 30M time frame and using the market profile, I found yesterday’s point of control at the price of $1,157.15. Intraday trend is bullish and my advice is to watch for buying opportunities on the […]
The minutes of the December 13-14 FOMC meeting, released Wednesday evening, should reflect the moderately more hawkish tone of the meeting statement. Recall that last month, it was widely expected for the FED to change rates, however the FED’s indications for 2017 were not. They indicated that 3 interest rate rises are expected while the […]
Gold price remains strong in the short-term chart as price is making higher highs and higher lows. Short-term trend has already changed to bullish and yesterday we saw a backtest of support and an upward reversal. This is a bullish sign. Minimum short-term upside target for Gold is at $1,180-$1,200. Green lines – support Short-term […]
2017 to be a better year for Copper than 2016. Paul Benjamin, Wood Mackenzie. Related Posts:GBP/USD. October 13th. US core inflation continues to slow… October 13, 2023 On the hourly chart, the GBP/USD pair reversed its course…
Commodities: New Year’s Promises Vs. Elliott Wave Patterns 2011, 2014, and 2016: The year’s performance has consistently followed its Elliott wave script By Elliott Wave International It’s that time of year again, when before us an entirely new blank slate is laid, which we eagerly fill with promises of better health, habits, and life choices. […]
Technical outlook and chart setups: Silver looks to have finally bottomed out at $15.60 level, before turning higher. The metal is seen to be trading at $15.90 level at this moment after having pushed higher through $16.10 level during early trade today, and should be looking to resume higher from here. Ideally, the metal should […]
Technical outlook and chart setups: Gold seems to have made a meaningful low at $1122.00 level now and is just about to continue higher through $1,165.00/70.00 levels from here. The metal is seen to be trading at $1,146.00 for now and is expected to find support ahead of $1,142.00 level before resuming higher again. Please […]
Recently, gold has been trading downwards. As I expected, the price tested the level of $1,146.68 in an high volume volume. According to the 30M time frame and using the market profile, I found yesterday’s point of control at the price of $1,159.45. Besides, there is a buying climax in the background and the price […]
Gold price is showing signs of a pullback after the breakout above the bearish short-term channel. At the same time it has broken out of the downward sloping weekly wedge pattern and right above the 78.6% Fibonacci retracement. We cannot rule out a new low yet. Red lines – bearish channel Short-term support is at […]
Technical outlook and chart setups: Silver looks to have finally bottomed out at $15.60 level, before turning higher. The metal is seen to be trading at $15.90 level at this moment and seems to have found support at $15.80 level, which is fibonacci 0.618 level of the entire rally as depicted here. Ideally, the metal […]
Technical outlook and chart setups: Gold seems to have made a meaningful low at $1122.00 level now and is just about to continue higher through $1,165.00/70.00 levels from here. The metal is trading lower towards $1,149.00 levels for now and should find support at $1,147.00/48.00 levels before turning bullish again. Please note that $1,147.00 is […]
Recently, gold has been trading downwards. The price tested the level of $1,149.46 in an average volume. According to the 30M time frame and using the market profile, I found Friday’s point of control at the price of $1,147.30. Besides, there is a buying climax in the background and the price didn’t sustain the higher […]
Overview The gold price traded upwards yesterday and breached 1,154.76 and settled above it, thus supporting our bullish trend expectations in the upcoming period. The price is likely to test 1,172.68 levels. It is important to monitor the price when reaching this level as the breach represents the key to extend gold price gains to […]
Overview The silver price opened today’s trading with more bullish bias breaching and settling above 16.15 levels. The price received positive momentum that supports our expectations of continuing the bullish trend on the intraday and short-term basis, which next target is at 16.56. A breach of this level will push the price to 17.43 as […]
Recently, gold has been trading upwards. The price tested the level of $1,163.03 in an average volume. According to the 30M time frame and using the market profile, I found yesterday’s point of control at the price of $1,148.00. Besides, there is a buying climax in the background, but the price broke that climax bar […]
Overview The gold price opens today’s trading with bullish bias approaching the initial resistance at 1,154.76, poised to breach this level and head towards our main target at 1,172.68. This will keep our positive overview valid and active for the upcoming sessions, supported by stochastic and the EMA50 positivity. Therefore, we expect bullish bias today […]
Overview The silver price has started trying to breach the key resistance at 16.15 now, which supports the expected bullish trend continuation in the upcoming period. The price is likely to visit 16.56 levels and the breach of it will lead the price to 17.43 levels. In general, we will still expect bullish bias unless […]
Recently, gold has been trading upwards. The price tested the level of $1,149.99 in average volume. According to the 30M time frame and using the market profile, I found yesterday’s point of control at the price of $1,141.65. Besides, the price respected key resistance level at $1,150.45, which is a sign that gold may trade […]
Overview The gold price hovers around the EMA50 after attempting to breach it yesterday. Stochastic managed to get rid of its negativity to reach the threshold of the oversold areas to provide positive momentum that we are waiting to help the price resume the bullish trend in the upcoming period targeting 1,172.68 levels mainly. Therefore, […]
Overview The silver price approached 16.15 levels yesterday, but did not breach it. The EMA50 forms negative pressure that the price needs to get rid of to be able to continue its bullish track on the intraday and short-term basis. We are still waiting a breach of the mentioned level to confirm the continuation of […]
Recently, gold has been trading downwards. As I expected, the price tested the level of $1,137.24 in a high volume. Both downward targets from yesterday has been met. Using the market profile, I found yesterday’s point of control at the price of $1,136.80 on the 30M time frame. According to the 30M time frame, I […]
Overview Gold price managed to breach the bearish channel’s resistance that appears on the above chart, which supports the continuation of the bullish trend scenario efficiently in the upcoming period, opening the way to head toward our next main target at 1,172.68, but we notice that the EMA 50 forms good resistance at 1,137.00, which […]
Overview Silver price shows sideways trading within the sideways track that appears on chart, noticing that stochastic provides clear positive signals on the four hours’ time frame, which forms positive motive that we are waiting to assist to push the price to breach 16.15 in the upcoming sessions, which will lead the price to touch […]
Recently, gold has been trading upwards. As I expected, the price tested the level of $1,150.45 in ultra-high volume. Using the market profile, I found today’s point of control at the price of $1,137.35 on the 30M time frame. According to the 5M time frame, I found buying climax and trap upwards move, which are […]
Recently, gold has been trading sideways at the price of $1,131.60. Using the market profile, I found today’s point of control at the price of $1,131.20 on the 30M time frame. On this chart I found that price is trading above the 21SMA and that there is sluggish supply in the background, which is a […]
The gold price remains inside its sideways trading range in what it seems a triangle pattern. The short-term trend is neutral. Gold is very close to important long-term support. A bounce is expected. There has been no reversal confirmation yet. Blue line – short-term resistance Green line – short-term support The gold price is trading […]
History could repeat this January… Stocks sell off, and metals rise. This is the exact opposite of what the masses are expecting and getting positioned for. Related Posts:Technical Analysis – USDCAD blossoms ahead of central bank… April 16, 2024 USDCAD rises rapidly; reverses November-December downtrend Risk of profit-taking increases…Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500… […]
Overview The silver price is fluctuating near 16.00 levels. We took a deeper look on the chart and found out that the price is forming a bullish pattern explained in the minor image. Its confirmation line is located at 16.15, which means that given the breach of this level, the pattern will have a positive […]
Recently, the gold has been downwards. As I expected, the price tested the level of $1,128.14. Using the market profile, I found today’s point of control at the price of $1,130.90 on the 30M time frame. According to the 30M time frame, I found that price is trading below the 21SMA and that there is […]
