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 […]
Overview As it was expected, the metal took an upward move in case of closing above the resistance level of 19.00. Friday, as it is shown in the H4 chart, the metal took a slightly upward move after breaking the Resistance area at 19.00 and it managed to close 4H above it and, currently, it […]
Overview Based on the H4 chart above, silver stabilized below the resistance level of 19.00 after hitting it then bouncing from it to take a slightly downward move as shown. If silver continues its bearish move and manages to break the support level of 18.60, it will produce a strong indicator for the downward move […]
Overview: Since our last analysis, gold has been trading downwards. The price tested the level of 1,241.70 again on ultra high volume according to the 1H chart. As you can see in the graph, the price rejected from our support level (1,240.00). According to the 1H timeframe, we can observe strong rejection on high volume […]
Technical outlook and chart setups: 1. Silver is trading around sub $18.50/60 levels as seen here since a few sessions now. At the moment, the metal seems poised to rally in a corrective manner towards at least $19.40/50 levels, before reversing again. Recommendations are to remain flat for now and look to sell at higher […]
Technical outlook and chart setups: 1. Gold has been drifting sideways between $1,241.00 and $1,249.00 levels since last few trading sessions. A probability remains for a pullback from current levels towards at least 1,275.00 levels before reversing. Recommendations are to still remain flat and wait for higher levels, to go short. 2. Support is at […]
Volume Dries UP Ahead Of ECB Morning Report: 08:30 London • Markets are keeping a reserve today ahead of the big ECB meeting and the FOMC meeting tomorrow. Consensus forecasts are for the ECB to cut rates to 0.10%, with potential for other measures. So far the euro is largely unchanged. […]
Gold slid for a fifth straight session on June 2, which resulted in the commodity suffering its most drawn-out decline in almost seven months. Investors who trade gold could benefit from being aware of this five-session slump. These individuals might want to know about the various factors that market experts cited when explaining the depreciation […]
Gold price has stopped the sharp decline that started from $1,300 and is now consolidating above the $1,240 support level. Gold price is moving sideways and trend is neutral. However we expect today or tomorrow Gold price to start a new trend and most probably upwards if support at $1,230 holds on. Gold currently trades […]
June 5, 2014 – Commodities News Hot Asset For Today: Gold Gold is ranging ahead tomorrow’s Nonfarm Payrolls data. Until then, the precious metal is unlikely to move drastically as its strength is linked to how traders view the US economy. Though there are other influences on the price of gold, such as physical demand […]
In less than two months, the price setting fix for silver in the precious metals market, will be officially put out of use after over a century of service. This has led to competition between big name financial institutions each offering an updated alternative to the 117 year old benchmark after the trade organization handling […]
CRUDE OIL: With Crude Oil reversing its intra day gains to close lower during Wednesday trading session, it faces the risk of further downside pressure. Immediate support lies at the 102.00 level where a break will set the stage for more weakness towards the 101.50 level. Below here will expose the 101.00 level. Further down, […]
Overview Based on the H4 chart above, silver is still stabilizing between the Support at 18.60 and the Resistance level of 19.00 after its failure to break the Support level of 18.60 since last week. If silver continues its bearish trend and manages to break the Support level, it will produce a strong indicator for […]
Overview: Since our last analysis, gold has been trading downwards, the price tested the level of 1,240.46 on ultra high volume according to the 1H chart. As you can see from in the graph, the price rejected from our support level (1,240.00). According to the 1H timeframe, we can observe strong rejection on ultra high […]
Light Sweet Crude Oil recently reversed down from the resistance zone surrounding the strong resistance level 105.00. The subsequent downward correction (ii) from this resistance level stopped at the combined support zone lying between the support level 102.00 and 38.2% Fibonacci Correction of the preceding sharp upward impulse (i) from the start of May (as […]
Goldman Sachs recently reached the resistance level 161.40– which is the first of the two buy targets that were set in our previous report for this company (161.40 and 165.00). Due to the strength of this resistance level Goldman Sachs immediately corrected down below 161.40 – to retest the former resistance trendline of the recently […]
Markets Eye Big Data Morning Report: 08:30 London • Markets slipped back into cautious mode this morning ahead of today’s US ADP jobs data and tomorrow’s ECB rate statement. The S&P 500 remains with touching distance of the record highs though while the dollar index continues to climb steadily. […]
Gold price remains in sideways short-term consolidation above the $1,240 support level. I expect soon to see a break out. I give more chances to see an upward break out towards $1,264 and then towards $1,280. Gold price is below Ichimoku cloud resistance and in down trend. However I believe it is oversold and a […]
The yellow metal pulled back to crucial support levels. Traders are waiting for today’s ADP non-farm employment change, ISM non manufacturing PMI and tomorrow’s ECB’s action, unemployment claims. The gold melted to a four-month low and paused its losing streak from $1,240 support levels. The metal is not getting any supporting data from the broader […]
Overview From the today’s H4 chart, yesterday the metal failed to break the Support level of 18.60 to bounce again from it and trade between this Support level and the Resistance level of 19.00. Currently, the metal is approaching the Resistance level of 19.00 again, therefore we should wait for closing above to continue its […]
Gold futures were seen trading slightly higher on Tuesday, halting the longest losing streak since November. However, the yellow metal remained near a four-month low as the world’s largest economy showed signs of improvement. “Gold broke decisively lower out of its narrowing range last week as equities continue to outperform and improving risk sentiment made […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,250.56 on volume above the average according to the 4H chart. I have placed Fibonacci expansion to find a potential end of the bearish movement and I’ve got submajor Fibonacci expansion 161.8% at the price of […]
That 23rd of August of 2011, when Gold reached its top price at $1,910 an ounce, seems light years away. We had very different times then, both in the markets and in the world. The gold was trading hard and investors were making predictions of crossing the $2,000 line and then, the sky’s the limit. […]
Asian Data & Tax Cut Hopes Lift Markets Morning Report: 08:30 London • This morning, world markets are still holding around recent highs, helped by a series of encouraging data points from Asian over night and hopes for a corporation tax cut in Japan. Chinese manufacturing data came in above estimates, while Australian current account data […]
Gold price is trading just above $1,240 and is consolidating. Gold price is trading above short-term support levels and could soon make an upward break out towards $1,280. If $1,240 holds, we should expect a buy signal when $1,250 is broken to bring us back up to $1,280-90. Gold price is below the Ichimoku cloud […]
June 3, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold started to move sideways yesterday between $1,240/ounce and $1,250/ounce. The price stopped its bearish movement after last week drop when the price dropped by more than $50/ounce. The movement was caused by great performance of U.S. stock market. The S&P500 […]
The metal has been rejecting at 50-week SMA for six weeks. Yesterday it had parallel support at $1,240.70. The oversold momentum indicators in the daily chart hold the metal at $1,240 levels, below $1,240.70 level, it will melt up to $1,237.70, $1,231.30 and $1,217-$1,213 levels. The next fall will take place below $1,240 for $1,237.70, […]
Gold continues to decline as demands for alternative investments reduce due to the stabilization of US economy as it boost the dollar and equities. Gold traded today at $1,243.09 an ounce as per data acquired in Singapore at 9:14AM. The bullion had further devalued from $1,243.93 yesterday as per Bloomberg generic pricing. Meanwhile the metal […]
Technical outlook and chart setups: 1. Gold has printed yet another low around $1,240.00 levels yesterday before pulling back. The metal is poised to continue drifting lower and a break of $1,240.00 and $1,230.00 could be extremely bearish. Recommendations are to remain flat for now and watch for a reaction at current levels. 2. Support […]
Overview: Since our last analysis, gold has been trading downwards, the price tested the level of 1,242.04 on volume above the average according to the Daily chart. Since the price has broke support level (1,251.00), we saw bearish pressure. I have placed Fibonacci expansion to find potential end of bearish movement and I’ve got submajor […]
