Daily analysis of Silver for October 05, 2016

Overview The silver price showed negative dynamic yesterday surpassing and settling below $18.30 levels. This puts the price under extra pressure, opening the way to $17.43 levels initially. On the other hand, we noted that the broken level formed a neckline in the double top pattern that has negative targets that might extend to $16.56 […]

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Analysis of gold for October 05, 2016

Since our previous analysis, gold has been trading downwards. The price tested the level of $1,266.35 in a high volume. Using the market profile analysis, I found strong downward momentum and peak area (resistance) at the price of $1,274.94 on the 30M time frame. The price is respecting that level, which is a sign that […]

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Technical analysis of gold for October 5, 2016

For the last few weeks I’ve been bullish about Gold as long as price was above $1,300. I warned several times that a break below $1,300 would be a bearish sign and that prices would need to make a deeper pullback towards $1,250-$1,200. Yesterday we saw support fail and Gold crash. Red line – resistance […]

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Bullet Report: Gold’s biggest drop in 2 years & Sterling at 31 year lows

Despite a thin economic calendar yesterday and after a long time, volatility was the theme of the day. Price action was most evident in GBP, EUR, OIL and GOLD due to various reasons for each which we will describe below. For today, the key data out of the US is the ISM non-manufacturing index. In […]

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Technical Analysis of Silver for October 05, 2016.

Technical outlook and chart setups: Silver has broken below the consolidation structure around $18.60 levels and is still expected to continue decline to $16.00 level at least. The wave structure also indicates that the metal is in its C wave correction within the 3 wave A-B-C drop that began from $21.10 levels earlier. Please note […]

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Gold Technical Analysis for October 05, 2016.

Technical outlook and chart setups: Gold finally broke below $1,302.00 level yesterday as expected earlier but it did not produce the counter trend rally towards $1,330.00 levels!! The metal broke out of the triangle structure and rushed through $1,370.00 levels before pulling back. The metal is seen to be trading at $1,274.00/75.00 levels for now, […]

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Gold analysis for October 04, 2016

Since our previous analysis, gold has been trading downwards. The price tested the level of $1,306.63. According to the 4H time frame, I found a large falling wedge formation (bullish formation). The price is in the middle of the falling wedge. Anyway, according to the 30M time frame and using market profile analysis, I found […]

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Dollar Index, Gold and EURUSD Test Significant Levels

The outperforming US ISM figure lifted market expectations of a rate hike in December to 55.7%, according to the CME’s FedWatch. The dollar index (Dec) surged since last night, breaking the near term resistance levels at 95.60 and 95.80. This morning the bulls further broke the near term major resistance at 96.00. It is currently […]

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Technical analysis of gold for October 4, 2016

Gold price remains very weak making lower lows and lower highs just above the $1,300 support area. The fact that Gold has not reversed yet to the upside decreases the chances of that happening and increases the chances of a move towards $1,280 before any upside bounce. Blue line – support Red line -resistance Gold […]

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Bullet Report: Sterling and GOLD dive to new lows. NFP in focus

Today’s calendar is once again very thin so markets will continue to focus on the UK PM’s stance on Brexit over the weekend, as well as developments with Europe’s biggest investment bank, Deutsche Bank whose shares have fallen to a 30-year low. Overnight, Australia has kept its interest rate policy unchanged whose economy has benefited […]

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Silver Technical Analysis for October 04, 2016.

Technical outlook and chart setups: Silver rallied through $19.60/70 levels last week as expected and discussed and reversed sharply from there as seen on the 4H chart view. The metal has dropped to fresh lows at $18.70 levels and is seen to be trading at $18.86 levels for now. The wave structure also indicates that […]

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Gold Technical Analysis for October 04, 2016.

Technical outlook and chart setups: Gold has hit yet another low at $1,307.00 just a few hours back before pulling higher. The yellow metal is seen to be trading at $1,311.00/12.00 levels for now, looking to produce a counter trend rally towards $1,330.00/31.00 levels before resuming lower again. The wave structure also indicates that the […]

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Gold analysis for October 03, 2016

Since our previous analysis, gold has been trading sideways at the price of $1,316.50. According to the 4H time frame, I found a large falling wedge formation (bullish formation). The price is in the middle of the falling wedge. My advice is to watch for a breakout of the wedge formation (current buy point at […]

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Technical analysis of gold for October 3, 2016

Gold price is trading near its trading range lows. Price is testing important support but bearish momentum is not very strong. I expect a bounce from the current levels at least towards $1,340-50. Gold price is trading below the 4-hour Ichimoku cloud and just above the 78.6% Fibonacci retracement. Gold price continues to make lower […]

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Silver Technical Analysis for October 03, 2016.

Technical updates and chart setups: Silver had rallied through $19.60/70 levels last week as expected and discussed and has reversed sharply from there as seen on the 4H chart view. The metal is seen to be trading at $19.13 levels for now and it is just a matter of time before it reverses lower towards […]

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Gold Technical Analysis for October 03, 2016.

Technical outlook and chart setups: Gold has printed yet another low at $1,312.00/13.00 levels as expected and discussed earlier. The yellow metal is seen to be trading at $1,316.00/17.00 levels for now, looking to produce a counter trend rally towards $1,330.00/31.00 levels before resuming lower again. The wave structure also indicates that the metal has […]

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Gold analysis for September 30, 2016

Since our previous analysis, gold has been trading upwards. The price tested the level of $1,327.58 in a high volume. According the M30 time frame and market profile, I found a strong point of control at the price of $1,327.00 and the price successfully rejected from that level. I found a potential bearish flag. So, […]

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Technical analysis of gold for September 30, 2016

As we expected, the gold price has made the new lower low and is showing signs of reversal. Bulls need to break above $1,327 to confirm upward short-term reversal. However, the price remains trapped inside the long-term trading range. The gold price is testing Ichimoku cloud resistance on the 4 hour chart. The price has […]

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Gold analysis for September 29, 2016

Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,317.79 in a high volume. The third take profit level at the price of $1,320.20 from yesterday has been met. The intraday trend is still downward. So, be careful when buying gold at this stage and watch […]

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Technical analysis of gold for September 29, 2016

The gold price remains in a short-term bearish trend, and we can see another new low towards $1,315 today. Overall, I give little chances of breaking below the important $1,300 level. I believe we should prepare for a bounce back towards $1,350. The gold price has reached the 61.8% Fibonacci retracement and has broken below […]

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Silver Technical Analysis for September 29, 2016.

Technical outlook and chart setups: Silver seems to have formed interim lows at $18.90 levels yesterday before pulling back higher. The metal is seen to be trading at $19.22 levels at the moment and is looking to push further towards $19.60/70 levels as depicted on the chart view presented here. Please note that the metal […]

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Gold Technical Analysis for September 29, 2016.

Technical outlook and chart setups: Gold has print yet another low at $1,317.00 levels as expected and discussed earlier. The yellow metal has pulled back higher and is seen to be trading at $1,324.00 levels at the moment, looking to drop one last time before producing a meaningful retracement higher. Please note that the wave […]

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Daily analysis of Gold for September 28, 2016

Overview The gold price traded downwards after testing the main bullish trend line at $1,316.25 shown on the chart. The price is forming the first protecting factor for the bullish trend continuation besides the $1,297.75 level, and as long as the price is above these levels, we will continue to suggest the bullish bias on […]

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Daily analysis of Silver for September 28, 2016

Overview The silver price broke the $19.38 level and settled below it testing the bullish trend line located at $18.95. As we mentioned in our recent reports, the achieved break will lead the price to test the 38.2% Fibonacci level at $18.30 before turning back to rise. Therefore, the bearish bias is temporarily expected in […]

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Gold analysis for September 28, 2016

Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,322.23 in a high volume. The second take profit level at the price of $1,326.50 from yesterday has been met. The intraday trend is downward. So, be careful when buying Gold at this stage and watch for […]

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Technical Analysis : USDCAD Tests Major Resistance, Gold Fails to Break the Downtrend

USDCAD remains bullish, yet it has retraced since Tuesday 27th, after testing the major resistance at 1.3240. The selling pressure above this level is heavy, the bullish momentum is likely to be restrained at this level. The resistance level is at 1.3240, followed by 1.3280 and 1.3300. The support line is at 1.3200, followed by […]

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Technical analysis of gold for September 28, 2016

The gold price has broken short-term support yesterday and is pulling back towards important short-term support at $1,320. The price is expected to reverse upwards from current levels. The rejection below $1,350 is not a good sign, but the price remains above the critical support of $1,300 and inside the long-term sideways channel. The gold […]

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Silver Technical Analysis for September 28, 2016.

Technical outlook and chart setups: Silver has further dropped towards fresh lows at $19.00 levels before pulling back slight higher. The metal is seen to be trading at $19.07 levels at this moment and it should be looking to produce a counter trend rally any time now. Please note that the trend line support will […]

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Gold Technical Analysis for September 28, 2016.

Technical outlook and chart setups: Gold finally gives in to bearish break out as expected and discussed earlier. The metal has broken lower and has made fresh intraday lows at $1,324.00/25.00 levels as depicted here. Please also note that the wave structure still indicates for a continued push lower towards $1,320.00 levels at least. The […]

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Daily analysis of Gold for September 27, 2016

Overview The tight range continues to dominate in gold price trading. The price moves near the key resistance that declines now to $1,345.00, and the EMA50 keeps providing the positive support to the price, while stochastic attempts to gain the positive momentum on the intraday basis. Therefore, these factors favor the bullish trend scenario in […]

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