Crude oil prices were seen trading higher on Friday as supplies from Iraq are threatened by the escalated tension in Iraq, the world’s second biggest oil producer. Futures for the West Texas Intermediate (WTI) crude for July delivery gained 0.45% to $107.01 a barrel on the New York Mercantile Exchange at the time of writing. […]
Brent Crude Oil recently broke sharply above the buy target 112.00 that was set in our earlier forecast for this instrument. The breakout of this resistance level coincided with the breakout of the long-term resistance trendline from February of 2012. This double breakout accelerated the latest minor impulse wave 3 from the start of June […]
How Far Will Carney Go? Morning Report: 08:45 London • Bank of England governor Mark Carny put a rocket under the British pound in a speech yesterday. The key message was: “This decision [to raise interest rates] is becoming more balanced. It could happen sooner than markets currently expect”. Markets had already been pricing in […]
Gold price has reached the 61.8% Fibonacci retracement of the decline from $1,300 per our analysis. I was bullish from $1,240 and confirmed it when price broke out of the sideways triangle at $1,250. Our first target was the 38% retracement at $1,264 and the second target at $1,277 the 61.8% retracement. Both targets are […]
June 13, 2014 – Commodities News Hot Asset For Today: Gold Gold has been ranging today after climbing yesterday an tension in Iraq and a slightly weaker dollar. Today, despite better than expected from China (the world’s largest gold consumer), the precious metal is not climbing higher and may be starting to decline ahead of […]
Traders are waiting for the PPI and core PPI data. We expect both indexes to be upbeat. The USD index is trading at 80.57 levels. The price is taking support at 80.50, below this, 80.44 is the strong support levels. Once breaking below this, the index can drop to 80.25 and 80 levels. On the […]
Oil price rushed to a 9-month high amid concerns in Iraq. In yesterday’s session, it spiked and gave a fresh upside breakout close above the multi-year trading range, its a highly bullish note for oil. Currently the oil is trading at 107.30 levels. It made a high at 107.67 levels in Asia’s session and still […]
GOLD Review- Gold slowly moved to 2-week high amid Iraq violence. The concerns in Iraq brought the yellow metal to the green light. We recommended to buy (June 09 article) the yellow metal for targets at 1,260, 1,268, 1,273.80, 1,278.50 and 1,288 levels with sl 1,240. We requested traders to book profits here at cmp […]
Kiwi Shines After Rate Hike Morning Report: 08:45 London • Volatility still appears to be on Summer break, but the is one notable mover this morning – the NZD/USD. The Kiwi is on the rise after the RBNZ voted to raise interest rates by 0.25% and judging by market reaction, there is scope for more. […]
June 12, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold increased during yesterday’s European session to $1,265/ounce, however turned and in the time of writing is ranging around $1,260/ounce. The price first reacted on the U.S. futures which were falling down but as the American session started the price of […]
GOLD: Outlook for GOLD may remain higher but loss of upside momentum has set in. It took back most of its intra day gains to close marginally higher on Wednesday ahead of its key resistance at the 1,273.80 level. On the upside, resistance comes in at the 1,280.00 level where a breach will expose the […]
June 11, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold broke through its resistance yesterday and climbed to $1,263/ounce. The price was mainly supported by physical demand which picked up slightly. However, as the platinum shows better trading opportunities investors leaving the gold market and we do not expect the […]
Markets Hold The Highs While Euro Struggles Morning Report: 08:45 London • This morning, world markets continue to hold at the highs, but the situation is looking increasingly stretched, especially as the euro continues to tick back. […]
Euro Takes A Dive Morning Report: 08:45 London • This morning, the euro is on the back foot as traders continue to assess the impact of the ECB meeting and implications for Quantitative Easing. • The EUR/JPY is off 0.44%, with the EUR/GBP down 0.27% and the EUR/USD down 0.24%. […]
June 10, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold started to range between $1,250/ounce and $1,257/ounce on a thin market due to no economic data. The price of Gold was spurred last week when European Central Bank introduced cut in the interest rates, however the U.S. stocks increased again […]
CRUDE OIL: With Crude Oil rallying strongly higher on the back of its Friday gains, it now looks to retarget its key resistance at the 104.98/105.21 zone. We are watching how price action will pan out here. This level is a very strong resistance zone as it has twice in the past. A break and […]
Overview: Since our last analysis, gold has been trading upwards, as we expected. The price tested the level of 1,257.60 on ultra high volume (buying climax) according to the 1H chart. As you can see in the graph, we saw strong rejection on ultra high volume (selling climax) from our resistance level at the price […]
Overview According to last week expections expressed , the price’s close below the Resistance level of 19.20 would 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 19.00 as the first target, then the metal must test the […]
Technical outlook and chart setups: 1. Gold has produced a bullish morning star candlestick pattern around $1,240.00 levels as seen here. The metal could bounce from current levels towards the $1,270.00/80.00 levels from here on. A push above $1,300.00 could prove to be extremely bullish for the metal and confirm that bulls are to remain […]
Goldman Sachs recently broke above the buy target 165.00 that was set in our earlier report for this company. The breakout of this resistance level coincided with the breakout of the upper resistance trendline of the daily down channel from January (which has enclosed the preceding primary corrective wave Ⓑ) – intersecting with the upper […]
Aussie Boosted On China Play Morning Report: 08:45 London • The new week has started on a positive footing across Asia as Japanese equities hit three month highs. China export data rose by a more than expected 7%, helping the Australian dollar to pump higher. • The AUD/USD is up 0.27%, with the NZD/USD not far […]
June 9, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold has been traded above $1,250/ounce since last Thursday when European Central Bank announced decrease in interest rates. The price slightly reacted on the U.S. Non-farm payrolls data but by the end of the day the price returned back on the […]
Gold price remains above the $1,250 price level consolidating near the 38% Fibonacci retracement of the decline from $1,301. Gold price has short-term support at $1,245-40 and short-term resistance at $1,257. Short-term trend is still downwards, but it is very possible to see another leg upwards equal to the first from $1,240 that would push […]
The yellow metal has been trading bearish. The metal is holding February’s low and has moved a bit higher. On the broader view, the metal seems to weaken again only below $1,240 levels. The panic button would take place below $1,237.30 for $1,210 (200monthly EMA). Until the monthly low saves the metal, it can climb […]
GOLD: We still maintain our upside outlook on GOLD on corrective recovery higher. This view remains valid as long as the commodity trades and holds above the 1,240.23 level. On the upside, resistance comes in at the 1,280.00 level where a breach will expose the 1,308 level. Further out, resistance resides at the 1,315.48 level […]
Overview: Since our last analysis, gold has been trading upwards, as we expected. The price tested the level of 1,256.78 on ultra high volume (buying climax) according to the 1H chart. As you can see in the graph, the price respected our support level (1,240.00), and that caused price to start moving upwards. Since we […]
ECB Action At Last – But Is it Enough? Morning Report: 08:45 London • The ECB took centre stage yesterday as Mario Draghi unveiled a menu of activities it has activated to finally help the Eurozone turn the corner. The headline measures include a rate cut down to 0.15% and a negative deposit rate. There […]
Gold price has held support at $1,240 and has given a short-term buy signal when it broke the short-term triangle above $1,250. Now it is trading at $1,255, Gold price looks like it is going to continue higher towards our first target of $1,264. Gold price has made a move up to the 38% Fibonacci […]
June 6, 2014 – Commodities News Hot Asset For Today: Gold Yesterday, weakness in the dollar stemming from bad unemployment data helped gold higher. Early this morning the precious metal was ranging until very recently, when the price started to rise slightly in anticipation of today’s NFP report. Given that traders are a little pessimistic […]
Technical outlook and chart setups: 1. Silver raises past the $19.00 levels yesterday, as discussed earlier. The current rally could be still defined as a retracement/correction which is expected to reverse from around $19.40/50 levels towards lower levels. Recommendations are to remain long if bought yesterday or plan to short around $19.40/50 levels on a […]
