Gold price remains inside the bearish channel and in a short-term bearish trend. Bulls tried to break above short-term resistance on Friday and today in early trading but price got rejected. There is no confirmation of a trend change yet. Gold remains in a bottoming process. Black lines – bearish channel Gold price is trading […]
Gold prices have turned bearish since the US presidential election date, as a result of the strengthening of the dollar, the mid-term major support line at 1200 was broken. The better-than-expected US economic figures on this Wed weighed on gold prices, and the support level at 1180 was broken. Yesterday the better-than-expected November US ISM […]
Since our previous analysis, gold has been moving sideways at the price of $1,171.00. Using the market profile on 30M time frame, I found yesterday’s point of control at the price of $1,167.00. Price is trading below 21SMA, which is a sign of weakness. Be careful when buying and watch for potential selling opportunities. The […]
Gold remains in a bottoming process and inside the bearish short-term channel, without any confirmation yet of a trend reversal. Could the NFP numbers announced today be the reason to start the reversal? Maybe, either way Gold bulls need to be patient. Black lines – bearish channel Gold price bounced off the lower channel boundary. […]
Since our previous analysis, gold has been moving downwards. As I expected, the price broke its trading range and tested the level of $1,161.96 in a high volume. Using the market profile analysis, I found a strong buying tail from the buyers, which is a sign that selling looks very risky. My advice is to […]
Gold price made a new low yesterday. I warned that a break below $1,177 would open the way for a new low. A trend remains bearish but I believe we are at the final stages of the decline and traders should focus on the upside. Black lines – bearish channel Gold price is oversold on […]
The dollar touched a 9-1/2-month high against the yen on Thursday as oil prices surged after OPEC agreed to output cuts. The 14-member group of major oil producers reached an agreement to reduce their output by 1.2 million barrels a day to a ceiling of 32.5 million barrels a day. If OPEC’s cuts weren’t bullish enough […]
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Overview The gold price continues fluctuating near the previously broken support line that turned into key resistance at 1,193.50. The breach of this level will reinforce expectations of the bullish trend continuation in the upcoming period, which also depends on the stability of the 1,172.68 level against the negative pressure that dominated the recent trades. […]
Overview The silver price traded steadily above the key support at 16.56 after attempting to break it yesterday. This keeps the bullish trend scenario active until now; the count is also supported by stochastic positivity shown on the four-hour time frame. The price is likely to visit the 17.43 level as the first main target. […]
Since our previous analysis, gold has been trading sideways at the price fo $1,185.50. The yesterday analysis is still valid. Using the market profile analysis, I found a strong point of control at the price of $1,186.00. Anyway, I found the trading range between the prices of $1,180.40 (support) and $1,197.00 (resistance). The short-term trend […]
Gold price continues to trade sideways between $1,195 and $1,177. Support was tested yesterday and held, but bulls could not break resistance. The strong Dollar remains the biggest influence so far to the downside for Gold. Blue line -short-term resistance Green line – short-term support Gold price is trading around the 4 hour kijun- and […]
Overview The gold price faces strong resistance formed by the previously broken support shown on the chart that turned into resistance at 1,195.00. The EMA50 adds extra negative pressure to protect the mentioned resistance, which might cause more sideways fluctuations until the price gets enough positive momentum to breach this level and resume the recently […]
Overview Silver price is hovering around 16.56, accompanied by a stochastic approach from the oversold areas. This keeps the chances valid to rebound and resume the expected bullish trend on the intraday and short-term basis, waiting to visit the first target level of 17.43. Therefore, the bullish outlook is valid unless we witness a clear […]
Since our previous analysis, gold has been trading sideways at the price fo $1,188.50. The analysis from yesterday is still valid. Using the market profile analysis, I found a strong point of control at the price of $1,186.00. Anyway, I found the trading range between the price of $1,180.40 (support) and the price of $1,197.00 […]
Gold price continues to hold recent lows but has also not broken the $1,200 short-term resistance. A medium-term trend remains bearish. A short-term trend is neutral as there are signs of a trend reversal. Gold price is trading around long-term support levels. Green line – trend line support Price is above the short-term Ichimoku cloud […]
Overview The gold price starts this week with more positivity testing the minor resistance 1,197.00, which represents the previously broken support line shown on the chart. A breach of this level will reinforce our expectations of bullish trend continuation in the upcoming sessions and will make the price head towards our first main target at […]
Overview The silver price trades with clear positivity breaching 16.56 levels and closing the last four-hour candlestick above it. This stops the recently suggested negative scenario and makes the price try to recover to target 17.43. The price attempts to regain the main bullish trend after the correctional bearish pressure that dominated the recent trades. […]
Since our previous analysis, gold has been trading sideways at the price fo $1,187.20. Using the market profile analysis, I found a strong point of control at the price of $1,186.00. Anyway, I found the trading range between the price of $1,180.40 (support) and the price of $1,197.00 (resistance). The short-term trend is downward but […]
Gold price is showing reversal signals off the $1,170 lows which was my lower price range level of an important low. This is also the 61.8% Fibonacci retracement of the entire rise from $1,045 to $1,375. I remain longer-term bullish looking for a new upward move above $1,400 over the coming weeks. Black line – […]
Overview The gold price trades with clear positivity now in attempt to move away from 1,172.68 levels, which supports continuation of our bullish overview for the upcoming period. The price is likely to test the 1,211.31 level as the next main target. Therefore, the bullish bias will remain suggested for the rest of the day […]
Overview The silver price approaches from retesting the 16.56 level that forms key resistance now as holding above this level represents the key to negative scenario continuation, which targets 15.49 levels in the upcoming period. Therefore, we will keep our bearish trend expectations valid for today unless breaching and holding above 16.56 levels, as the […]
Since our previous analysis, gold has been trading sideways at the price fo $1,187.20. Using the market profile analysis, I found a point of control at the price of $1,186.30. Anyway, I found the upward trend line and the price broke it, which is a sign of weakness. Watch for selling opportunities. The first downward […]
Gold price made a new low earlier this morning only to reach closer towards the long-term 61.8% Fibonacci retracement of the entire rise. Price is now bouncing and testing short-term resistance. Gold short-term trend remains in a bearish trend as long as price is below $1,195. Black line -short-term resistance Gold price is testing resistance. […]
Overview The gold price confirmed a break of the 1,211.31 level after closing the daily candlestick below it, which puts the price under negative pressure that we expect to dominate the upcoming trading. The downward target represents testing of the 61.8% Fibonacci correction level that forms key support at 1,172.68. Therefore, the bearish bias is […]
Overview The silver price ended yesterday’s trading below 16.56 levels falling under negative pressure that opens the way to the 15.49 area in the upcoming sessions. As we mentioned in our last technical update, the intraday trend has turned downwards now. Therefore, we are waiting for more negative trades for today unless the price manages […]
Since our previous analysis, gold has been trading downwards. As I had expected, the price tested the level of $1,180.17 in a high volume. Using the market profile analysis, I found the fairest price today at the level of $1,186.30. Besides, I found a trading range between the price of $1,180.00 (support) and the price […]
Gold price broke through the $1,200 support yesterday and declined towards $1,180-$1,170 as expected. We are now at the final stages of the decline in gold prices as this will mark a similar low of high importance as the $1,045 low. Green line – support Blue lines – wedge Gold price has reached the $1,180 […]
Overview The gold price has been hovering around $1,211.31 levels since yesterday, while stochastic keeps providing positive signals on the four-hour time frame, which is likely to make the price resume the expected bullish bias in the upcoming period. Bullish targets begin by surpassing the $1,225.85 barrier opening the way to $1,249.94 as the first […]
Overview The silver price tested the key support at $16.56 and held above it, thus keeping the bullish trend scenario valid until now. The count is also supported by stochastic positivity shown on intraday time frames. The price is likely to head towards $17.43 initially. The mark of $16.56 represents the 61.8% Fibonacci correction level […]
