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 […]
Despite an empty financial calendar yesterday, the market was extremely active with the main theme being the selloff of the USD and the surge of German DAX along with regional bourses. In essence, almost all the gains post the NFP last week were evaporated in swift fashion catching many traders by surprise. Today, the financial […]
Gold price has pulled back towards the 61.8% Fibonacci retracement and is showing signs of a bullish reversal. In my last analysis I noted the importance of the support in this area and that would be the last chance for bulls. Otherwise the scenario of a deep pull back towards $1,200 gets the lead. After […]
Since our previous analysis, gold has been trading downwards. As I expected, the price tested the level of $1,337.87 in an average volume. According to the H1 time frame, I found a lack of supply at the level of $1,330.00. It is very risky to sell at this stage. There is strong bullish divergence on […]
Technical outlook and chart setups: Silver hit fresh lows at $19.50 levels last Friday as expected. The metal is trading at $19.60 at the moment and looks to be setting up for a retracement/counter trend rally towards $20.40/50 levels before reversing again. Besides, the metal is likely to consolidate (triangle) and seems to be in […]
Technical outlook and chart setups: Gold finally reversed as expected on last Friday and has now hit lows at $1,329.00 levels. The metal is now expected to retrace higher towards $1,350.00 levels again before reversing lower. It looks like the metal has carved out a meaningful top at $1,367.00 levels and should be setting up […]
Overview The silver price has been hovering around 19.65 levels since morning, while stochastic provides a positive overlapping signal on the four-hour time frame, so the price is likely to resume the main bullish trend after the last decline that pushed the price to approach from the 23.6% Fibonacci level at 19.38. Therefore, we expect […]
Overview The gold price showed clear negativity in the last sessions testing the intraday bullish trend line shown on the chart. Meanwhile, stochastic generated clear oversold signals providing positive motive that we expected to help the price resume the main bullish bias, which targets begin by testing the previously recorded top at 1,375.00. In general, […]
Since our previous analysis, gold has been trading downwards. The price tested the level of $1,329.79 in an average volume. According to the H1 time frame, I found a lack of supply at the level of $1,330.00. It is very risky to sell at this stage. There is strong bullish divergence on the RSI oscillator […]
