Since our previous analysis, gold has been trading sideways at the price of $1,226.10. Using the market profile on 15M time frame, I found strong point of control at the price of $1,223.85. Watch for potential breakout of this level to confirm a downward movement. A downward target is set at the price of $1,211.50. […]
Gold price is in wave 2 and has already touched the Ichimoku cloud support and started a bounce. Gold price has made a long-term low at $1,045 according to my analysis and 5 waves up followed and we are now in a three-wave corrective phase. Black lines – bearish channel Gold price has broken out […]
Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,212.56 in a high volume. The price met my yesterday’s take profit at $1,226.50. Using the market profile analysis, I found today’s point of control at the price of $1,222.55. Besides, I found that sellers are in […]
Gold price crashed to new lows on Friday and even today closer to our $1,200-$1,180 target area after breaking below $1,250-40. We are in wave 2 down for Gold and this is not the time to be bearish. I expect Gold price to reverse to the upside once wave 2 down is complete. Black lines […]
The Value of the USD keeps appreciating with the Dollar now reaching at 9 month highs. The reason for the appreciations seems to be the perception that inflation will rise higher than expected in the US, greatly due to Trump’s policies in regards to fiscal spending commitment (building up infrastructure, hospitals, schools etc.) as well […]
Overview Gold price broke the minor bullish channel’s support that appears on chart to head directly for testing the key support 1,249.94, which represents 38.2% Fibonacci correction level for the rise from 1,047.61 to 1,375.01. This requires caution about any attempt to break this level, as breaking it represents the key to extend the correctional […]
Overview Silver price retreated after approaching 19.00 barrier yesterday, to fluctuate at the key support 18.30 again, which is met by the EMA50 to add more strength to it. Meanwhile, stochastics are moving near the oversold areas now. Therefore, these factors encourage us to insist on the bullish trend in the upcoming sessions. The next […]
Since our previous analysis, gold has been trading sideyways at the price of $1,257.45. The price met my yesterday’s take profit at $1,261.40. Using the market profile analysis, I found today’s point of control at the price of $1,260.35. Also, I found trading range between the price of $1,250.75 (support) and $1,265.05 (resistance). Watch for […]
USDCAD has seen a substantial rebound from a three-week low of on the US election night. It has been trading above the downside uptrend line support with strong bullish momentum. Yet the current price is trading around the resistance zone between 1.3500 – 1.3520, the bullish momentum is likely to be restrained at this level. […]
The gold price has broken through important support levels and is heading towards recent lows $1,250-$1,240. The trend is bearish for the short-term. The price could be heading towards $1,220-$1,180, but overall longer-term view remains very bullish as an important long-term low is at $1,045. Red line – support (broken) The gold price has broken […]
Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,269.99 in a high volume. The price met my yesterday’s take profit at $1,270.00. Using the market profile analysis, I found today’s point of control at the price of $1,285.80. Sellers are in control of the market. […]
Technical outlook and chart setups: Silver has reversed lower after hitting close to $19.00 level indicating that a meaningful top is in place now and the metal is expected to decline deeper. The metal is trading at $18.75 level for now, looking to sink lower towards $17.00 and $16.50 levels respectively. Please note that the […]
Technical outlook and chart setups: Gold has reversed from $1,337.00 levels yesterday, exceeding our projection, but the metal could not break above the $1,343.00 resistance levels. The metal seems to have now terminated its counter-trend rally and should resume its trend lower towards $1,171.00 levels. A meaningful top is now in place at $1,337.00 levels […]
Gold price has broken out to new highs yesterday but made a very bearish reversal move towards $1,270 support. Price holds support for now but only a weekly close above $1,310 will negate the bearish reversal from $1,338. Red line – support Gold price is still trading above the red trend line support. A break […]
Since our previous analysis, gold has been trading upwards. The price tested the level of $1,237.19 in an ultra high volume. Using the market profile analysis, I found buying climax and strong reaction from sellers. The price changed behaivor from bullish to bearish. Besides, the price is trading below the 21SMA according to the 30M […]
When polls showed that Trump was ahead of Clinton, the dollar plunged, most major currencies rallied against the dollar. Since it was clear that Trump won the election, the dollar started rebounding, and recovered most of the intra-day loss as Trump made a speech to stabilize markets. Markets still have concerns about the uncertainty for […]
Gold price spiked to new highs after the US elections results but the highs are not sustained as price is pulling back down. Yesterday prices reached as low as $1,270 and this is important support now. Red line – support trend line Gold price has support at $1,290 and at $1,280. A break below this […]
Morning Report: 07.30 London “America – What have you done?” This one newspaper headline about sums up the reaction to the likely election of Donald Trump as US President (as of the time of writing). The dollar has dropped off, with trades flooding to the Japanese yen as a safe harbour. There was a wide […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,278.73 in an average volume. Using the market profile analysis, I found potential intraday bottoming near the price of $1,278.80 on the 15M time frame. I found successful rejection from yesterday’s low at the price of $1,278.80, which is a […]
Gold price has made a new lower low just below $1,280 and I believe this could be the end of the downward correction. I expect Gold price to resume its uptrend. I remain longer-term bullish about Gold. Red line – resistance Gold price as expected has pulled back towards the Ichimoku cloud and is still […]
Overview The gold price shows more negative attempts to push the EMA50, which might make the price test the minor bullish channel’s support at 1,271.60 as the next negative station before turning back to the rising attempts. In general, the overall bullish trend scenario will remain valid for today unless the price settles below 1,287.00 […]
Overview The silver price tests the bullish trend line at 18.10 as shown on the chart again. The EMA50 meets there adding more strength to it and protecting the continuation of the recently suggested bullish trend scenario, which depends on the stability above the mentioned level. Therefore, we are waiting for positive trading in the […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,283.51 in an average volume. Using the market profile analysis, I found potential intraday bottoming near the price of $1,285.45 on the 30M time frame. I found unsuccessful breakout of yesterdays’s low at the price of $1,285.45, which is a […]
Gold price got rejected near its recent highs above $1,305 and is turning lower. With the dollar strengthening from last Friday, gold is expected to break recent low and move lower towards $1,270. My longer-term view remains bullish. Red line – resistance Gold price has already broken the kijun-sen (yellow line indicator) on the 4 […]
Precious metals are considered by some as part of the current year’s best performing investment products. Despite the uncertainty of several futures markets, the demand for gold continues to increase by investors who are on the look for safe haven assets. It would also be wrong to assume that central banks are looking to sell […]
Overview Gold has been trading in a narrow range since morning, settling above 1297.74 level. This keeps our bullish expectations valid. The price might show more sideways fluctuation until stochastic manages to gain enough positive momentum to push the price to continue the overall bullish trend. Therefore, the bullish trend will remain active in the […]
Overview Silver price bounced upwards after leaning on the bullish trend line that appears on the chart. The yesterday’s closing price was above 18.30 level. The EMA50 provides good support to the price, while stochastic shows bullish trend signals on the four hours’ time frame. Therefore, these technical signals support the continuation of the bullish […]
Since our previous analysis, gold has been trading sideways at the price of $1,300.00. According to the 30M time frame and using the market profile analysis, I found strong resistance and strong point of control at the price of $1,300.25. Also, there is supply trendline in the background, which is a good sign for further […]
Since our previous analysis, gold has been trading sideways at the price of $1,300.00. According to the 30M time frame and using the market profile analysis, I found strong resistance and strong point of control at the price of $1,300.25. Also, there is supply trendline in the background, which is a good sign for further […]
Since our previous analysis, gold has been trading sideways at the price of $1,300.00. According to the 30M time frame and using the market profile analysis, I found strong resistance and strong point of control at the price of $1,300.25. Also, there is supply trendline in the background, which is a good sign for further […]
