Technical outlook and chart setups: Silver is seen to be trading around $18.93 levels at this moment, after forming lows at $18.70 levels earlier this week. Please note that the metal has produced a regular flat as wave 4 consolidation. It might push lower below $18.70 levels one last time before turning bullish again. Furthermore, […]
Technical outlook and chart setups: Gold is seen to be trading higher at $1,338.00 levels after printing fresh lows at $1,331.00 levels earlier. Please note that the yellow still looks to be constructive for bulls to regain control, till prices stay above $1,330.00 levels. The wave structure continues to indicate that the metal seems to […]
Since our previous analysis, Gold has been trading sideways at the price of $1,342.00. According to the 4H time frame, I found trading range between the price of $1,330.00 (support) and the price of $1,357.60 (resistance). The price action suggesting that buyers protected the support (pin bars from the support). So, I am expecting testing […]
Silver Spot On Monday 22nd Aug, a rebound of the dollar weighed on silver, resulted from the hawkish comments made by Fed Vice Chairman Fischer. Silver spot opened low and broke the down trend channel, plunged to the intra-day low of 18.70, from the low of 19.761 on 19th Aug, a 5.4% fall. It has […]
Gold price bounced off the 61.8% Fibonacci retracement and is back testing the broken triangle area at $1,340-50. I believe this is a backtest and price will reverse downwards towards $1,300 over the coming days. Blue lines – triangle pattern Red line-long-term support Gold price held support at $1,330 where the 61.8% Fibonacci retracement is […]
The People’s Bank of China (PBOC) has received approval from the World Bank allowing its’ issuance of bonds which are denominated in Special Drawing Rights (SDRs). The World Bank is the first entity to approve of it and consequently marks the launch of the SDR bond market of the worlds’ second-largest economy. Jim Yong Kim, The World […]
Overview The gold price has begun today’s trading with clear negativity and has broken the symmetrical triangle’s support shown on the chart, which puts the price under negative pressure that we expect to push trading to visit the key support levels between 1,310.65 and 1,297.75 before any new attempt to resume the main bullish trend. […]
Overview The silver price opened today’s trading with a bearish gap that made the price break and settle below 19.38 levels it. This pushes the price to target the 38.2% Fibonacci level for the rise from 13.75 to 21.12. This level forms a key support at 18.30 and the price is likely to touch this […]
After 306 events, 28 sports, 11,551 athletes and thousands of medals awarded, the 2016 Olympic Games in Rio have come to a close. The games made famous for handing out gold, silver and bronze medals to its top performers will sunset for another two years, when the winter athletes descend on Pyeongchang, South Korea. But […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,331.56 in a high volume. According to the 30M time frame, I found that Gold is in a strong downward bias. I found a resistance cluster at the price of $1,337.45. The price respected this resistance and created up-thrust, which […]
Technical outlook and chart setups: Silver is seen to be trading around $18.91 level at this moment, after forming lows at $18.70 level today. Please note that the metal pushed lower beyond our expectation and also nullifies a triangle consolidation structure. The wave structure now reveals that Silver has completed a corrective regular flat a-b-c […]
Technical outlook and chart setups: Gold dropped lower on Friday and has also made fresh lows today around $1,331.00 levels today, before pulling back higher. The metal has exceeded its drop more than our expectations but still keeps the wave structure bullish till prices stay above $1,330.00 level. Looking into the wave structure, the metal […]
Gold price is trading above the 61.8% Fibonacci retracement of the rise from $1,310. This is a short-term support that if broken combined with the triangle breakdown we should see some acceleration lower towards $1,310. Blue lines -triangle pattern Red line – long-term support Price is below the Ichimoku cloud in the 4 hour chart […]
The economic calendar is very thin today, and this week in general. Focus will shift on Fed Chairwoman’s Janet Yellen’s speech on Friday. Overnight, the USD index gained as yet another Fed member (Stanley Fischer) reiterated that interest rates might increase this year after New York Fed president William Dudley, warned last yet that the […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,344.48 in an ultra high volume. According to the 1H time frame, I found that Gold is in a bearish corrective phase. I have placed Fibonacci expansion levels to find a potential end of the bearish corrective phase. I got […]
Despite the expectations of a rate hike by the Fed in December of 2016, silver has remained close to its highs (as shown in the chart below). After a stellar run, the white metal is consolidating near its highs, while anticipating its next imminent breakout. Along with investing in the white metal directly, investors should […]
Technical outlook and chart setups: Silver is seen to be trading at $19.63 levels at this moment, looking to continue pushing higher towards $20.50/80 levels at least. The wave structure reveals that Silver has been consolidating in an expended triangle structure, as seen on chart view here. Furthermore, please also note that the metal looks […]
Technical outlook and chart setups: Gold is seen to be trading at $1,347.00 levels at the moment, looking to stage a rally from here towards $1,368.00 levels at least. Looking into the wave structure, the metal seems to have terminated its wave 4 triangle consolidation at $1,336.00 levels earlier. The metal should remain in control […]
Gold price is trapped inside a long-term triangle pattern that will either give the price a push higher towards $1,430 or a decline towards $1,280. Trend is neutral, and traders should be patient and sell near resistance or buy near support. Short-term resistance is at $1,360 and support at $1,340. Traders are recommended to buy […]
Since our previous analysis, gold has been trading upwards. The price tested the level of $1,355.89 in a high volume. According to the 1H time frame, the price rejected from my downward target at the level of $1,335.95. I found a massive volume and strong rejection from the level of $1,335.95. Today, I found successful […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,340.65 in a high volume. According to the 30M time frame, there is an intraday downward trend. I found potential ending of ABC corrective phase, which is a sign that buying looks risky. Strong resistance level is set at the […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,353.07 in a high volume. According to the 30M time frame, there is an upward trend and successful testing of supply, which is a sign that selling looks risky. According to the 5M time frame, I found […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,333.19. According to the 30M time frame, I found that strength came in at the bottom. There is a test of supply in a low volume, which is a sign that selling Gold at this stage looks risky. The price […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,334.64. According to the 30M time frame, I found that strength came in at the bottom. There is a hidden test of supply in a low volume. Anyway, key resistance level today is set at the price of $1,341.08. If […]
Technical outlook and chart setups: Silver is seen to be trading at $19.95/20.00 levels for now, after having tested $19.80 levels yesterday. The metal also looks to be consolidating (triangle) and seems to be in its last leg drop as shown here. If the above wave count holds true and silver breaks above the resistance […]
Technical Outlook and chart setups: Gold had dropped lower towards $1,335.00 levels yesterday as expected and discussed earlier. The metal looks to be in a triangle consolidation structure as depicted on the 4H chart view here. Looking into the structure here, the metal should turn into bullish territory above $1,355.00 levels provided $1,330.00 levels hold […]
Gold price has bounced as we expected but the bounce is not strong enough yet for a clear break above $1,350. This is needed for a new high to be achieved otherwise bulls will be in danger of losing even the critical support of $1,300. Blue line – resistance Gold price bounced off the 61.8% […]
Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,357.00 in a high volume. According to the H4 time frame, I found a morning star formation (bullish formation), which is a sign that selling looks risky. Besides, there is a rejection from the 21SMA. Upward targets […]
Overview The gold price keeps trading positively and moving away from the intraday bullish trend line, supported by the EMA50 that carries the price from below. The price is likely to hit 1,375.00 levels that represent the next main station, a break of which is the key to bullish wave extension to 1,400.00 followed by […]
Overview The silver price managed to breach the EMA50 and closed the last four-hour candlestick above it, thus getting positive motive that reinforces the continuation of the bullish trend scenario for today, and opening the way to 21.12 levels initially. Therefore, our positive overview will remain valid for the upcoming period as long as the […]
