Technical outlook and chart setups: 1. Gold is seen to be re-testing the trend line resistance around the $1,278.00/80.00 levels for now. A break here and subsequently $1,300.00 would be extremely bullish for the metal. Recommendations for now is to remain short, risk remains at $1,300.00. 2. Support is seen at $1,240.00, followed by $1,230.00, […]
Overview From the today’s H4 chart, the metal failed to break the Support level of 19.50 to bounce again from it and trades between this Support level and below the Resistance level 19.90. Currently, the metal is most likely re-testing the Resistance level of 19.90 again, therefore we should wait for closing above to continue […]
Gold prices were seen trading lower on Wednesday before the US Federal Reserve (Fed) concludes its two-day policy meeting later in the day and investors weigh on the ongoing tensions in Iraq. Bullion for immediate delivery slid 0.31% lower to $1,268.60 an ounce at the time of writing. Prices for gold rose to $1,284.96 on […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,273.09 on volume above the average. As you can see in the graph, the price rejected successfully from our Fibonacci 61.8% at the price of 1,257.00. I have placed Fibonacci expansion levels to find potential upper […]
The rise from $1,240 to $1,286 in Gold price was retraced by nearly 50% yesterday. This pull back found support at $1,258 as I mentioned yesterday that a pull back towards $1,255-50 was expected. Gold price as long as it holds above $1,258, we should expect the upward move to continue towards $1,300 and why […]
GOLD Traders eye the FOMC meeting and US inflation data. The US Fed is widely expected to cut another $10 billion from its monthly bond-purchasing program. Gold pulled back from the lower levels and paused its rally at 50-day SMA. Currently, it is trading at $1,270.50 levels. As we recommended in our previous article, the […]
Technical outlook and chart setups: 1. Silver is bouncing off the $19.50 levels which is the back side of resistance turned support line as seen here. A push above the $20.00 mark would more or less confirm that bulls want to stay for long and $20.40 would remain immediate target. 2. Support is seen at […]
Technical outlook and chart setups: 1. Gold returned from the trend line resistance around $1,280.00 levels as seen here; but the follow through is still missing. A push higher than $1,282.00 levels again would want to challenge $1,300.00 levels. Recommendation is to remain flat for now. 2. Support is at $1,240.00, followed by $1,230.00, $1,210, […]
During the past couple months several indexes, sectors and commodities have sold off more than 10 – 20%. But now some are looking like new buying opportunities. Over the next week I will bring a few of these trades to your attention as they start to unfold. Today we are looking at the TAN solar […]
Markets Await The Fed Morning Report: 08:45 London • This morning markets are keeping a watching brief as well they might with the Bank of England releasing the voting patterns from its last meeting and the FOMC providing its latest guidance on interest rates and QE. The Fed announcement and following press conference is the […]
On the back of the most recent data on consumer prices in the US, future contracts for gold have gone down in price even with turmoil present in many parts of the globe. August contracts in the New York Mercantile Exchange for a troy ounce of the precious metal dropped to $1,272 on Tuesday reflecting […]
Overview As shown from the today’s H4 chart, the metal is stabilizing between the support level of 19.50 and the resistance level of 19.90 after its failure to break the support level again. Currently, we must wait for re-testing the support level of 19.50 again and closing below in order to get the bearish move […]
Overview: Since our last analysis, gold has been trading downwards, the price tested the level of 1,258.69. As you can see in the graph, the price rejected successfully from our resistance level at 1,283.00 (swing low like resistance). I have placed Fibonacci retracement to find potential support levels and I got Fibonacci retracement 61.8% at […]
Markets Slip On European Data Morning Report: 08:45 London • Currency markets are mixed this morning after UK and European data came in below estimates. UK inflation and PPI came in well below estimates, while German ZEW sentiment also sank more than anticipated. The euro and pound are lower, but the damage could have been […]
Technical outlook and chart setups: 1. Silver reverses right from trend line resistance and fibonacci 0.618 confluences around $19.90 levels as seen here. Intermediary support is seen at $19.30 levels for now. Recommendations are to remain short, risk remains at $20.40 levels. 2. Support is seen at $19.30, followed by $18.50/60, $18.20 and lower while […]
Gold price after reaching $1,285 (just 3 dollars away from my $1,288 target) has pulled back downwards breaking short-term support. Gold price is currently trading below $1,270 and this weakness sign means that the upward move from $1,240 is over and bulls should be very cautious. The trend line support has been broken. Gold price […]
Technical outlook and chart setups: 1. Gold reverses from convergence of the following: i) Trend line resistance, ii) Fibonacci 0.618 resistance and iii) Support turned resistance at sub $1,280.00 levels. Recommendations are to remain short for now, risk remains at $1,300.00. 2. Support is at $1,245.00, followed by $1,240.00, $1,230.00, $1,210.00 and lower, while resistance […]
June 17, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold reversed its upper-trend and fell during yesterday’s trading hours and today’s Asian session from $1,285/ounce to $1,263/ounce. The price reversed despite the fact that the situation in Iraq has remained serious which can point on the situation when traders are […]
The profit taking activity is pushing gold towards the south. The metal was rejected at 50-day SMA at $1,285.50, it made a high at $1,284.50. We recommended to book profits at $1,282 levels in yesterday’s article. Today in Asia’s session, the metal started melting and broke the 21 hrsma, moving towards 35 hrsma. On the […]
CRUDE OIL: With Crude Oil rejecting higher prices to decline during Monday trading session, further downside is likely on corrective weakness. On the downside, support comes in at the 106.00 level with a cut through here setting the stage for more decline towards the 105.21 level. Further down, support is located at the 104.49 level […]
Overview According to our previous expectations, the prices close below the Resistance level of 19.90 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Resistance level to trade below and open the way towards 19.50 as first target, then the metal must test the Support level of […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,284.67. As you can see in the graph, the price tested our resistance level (swing low like resistance). We must wait to see what will happen around our resistance level, if the price breaks the level […]
Gold Pushes Higher On Iraq Unrest Morning Report: 08:45 London • After a weekend of violence and an incredibly rapid advance from ISIS in Iraq, precious metals are in demand this morning. Gold and Silver are stepping up their recent up trends. […]
Gold price has managed to break above the 61.8% Fibonacci retracement of the decline from $1,300. Next short-term resistance is the 78.6% retracement at $1,288. As I mentioned in my previous analysis, short-term trend is up and it looks like Gold price is heading towards $1,300 after achieving our short-term targets of $1,264 and $1,277. […]
Technical outlook and chart setups: 1. Silver has rallied through the inner line of resistance and towards the outer resistance line around $19.88 levels for now. As seen here, the metal is reversing from trendline resistance and a bearish reversal remains a probability here. Recommendations are to remain flat and watch out for a bearish […]
Technical outlook and chart setups: 1. Gold has rallied through the resistance region of $1,278.00/$1,280.00 as expected and as seen here. Please note that the fibonacci 0.681 resistance is passing through $1,278.00/79.00 and the past resistance turned support is also around the same $1,279.00 levels as seen here. 2. Support is seen at $1,245.00, followed […]
June 16, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold has been continuing its bullish movement up from last Monday and today so far reached $1,284/ounce. The price is reacting on the turmoil in Iraq which boost the demand for safe-haven assets. The price is expected to rise more if […]
The yellow metal gained support due to the Middle East concerns. The metal moved to a 2-week high. In Asia’s session, it is trading at $1,282. In the weekly chart, the metal gave an upside breakout from a descending pattern. We recommended twice to buy, the first one, at $1,253 and the second time, at […]
GOLD: The commodity faces further upside risk following strong bullish upside offensive the past week. On the upside, resistance comes in at the 1,280.50 level where a breach will expose the 1,308 level. Further out, resistance resides at the 1,315.48 level with a violation aiming at the 1,331.36 level and then the 1,342.00 level. Its […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,277.00. As you can see in the graph, the price tested our resistance (swing low like resistance). We must wait to see what will happen around our resistance level, if the price breaks the level of […]
