CRUDE OIL: Although Crude Oil remains vulnerable to the downside, it faces corrective recovery higher. With that correction triggered on Monday, further strength is expected towards the 101.15 level. A break will aim at the 102.00 level followed by the 102.94 level and then the 104.98 level. A breach of here if seen will pave […]
Overview Since our last analysis, gold has been trading downwards. As we expected, the price tested and rejected our support level at 1,277.50. As you can see in the chart, our support level is held at 1,277.00 successfully, and that caused price to start upward movement and test the level of 1,303.58. According to the […]
Investors who trade gold have experienced a volatile market in recent weeks, as multiple events are pushing the precious metal in different directions. According to Businessweek, the strength of the stock market is pushing gold down. The Dow Jones Industrial Average increased 0.6 percent – nearing a record – last month. Last year, gold slumped […]
Gold plunged for five consecutive days as the euro weakened versus the US dollar and speculations the Federal Reserve will push through with cutting down monetary stimulus. Bullion for immediate delivery dived about 0.7% to $1,280.02 per ounce, the lowest level since May 2, and settled at $1,285.38 at 9:00 a.m. in Singapore. Last week, the metal […]
May 12, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold has been ranging between its support and resistance since last Thursday. The price reacted on continues withdrawal of Fed and despite tension in Ukraine the price fell below $1,295/ounce. Today we should pay attention to FOMC member Charles Plosser’s speech […]
Technical outlook and chart setups: 1. Gold has bounced off the immediate support trendline around $1,280.00 levels as seen here. Also the 0.786 fibonacci levels of the recent rally from $1,275.00 to $1,314.00 levels pass through the same region. The metal looks poised to rally towards $1,330.00 and higher for now. Recommendations are to hold […]
Technical outlook and chart analysis: 1. Silver bounces off as expected and discussed earlier from sub $19.00 levels again. Bulls should remain in control for now and the metal should be targeting $20.40 and higher as shown here. Recommendations are to remain long, also look to buy more on dips from here on. $18.90 levels […]
Dollar Pairs Start Recovery Morning Report: 08:30 London • This morning, markets generally have a positive bias, as the dollar index gives back some of Friday’s big gains. […]
Gold price has broken below the upward sloping trend line since it continues to consolidate sideways around $1,290. As shown in the 4 hour chart below, Gold price is now below the Ichimoku cloud and below the trend line. Early today, it also challenged the lower support area at $1,275. Gold bulls will need to […]
GOLD: With GOLD closing lower the past week, further downside pressure is likely. This leaves the commodity vulnerable to the downside towards the 1,273.80 level where a breach will set the stage for a run at the 1,268.39 level. Further down, a turn below the mentioned support will target the 1,250.00 level followed by the […]
Overview Since our last analysis, gold has been trading sideways, around the price of 1,288.00, we are still waiting larger movement and larger volume. As you can see in the chart, our major Fibonacci retracement 38.2% (1,315.55) held successfully, and that caused price to start downward movement. According to the 4H timeframe, we can observe […]
Brent Crude Oil recently reversed up from 50% Fibonacci Correction of the previous sharp minor impulse (i) from the start of April. The upward reversal from this support level completes the previous minor corrective wave (ii). Brent Crude Oil is expected to rise further to the next buy target at 111.00 inside the currently active […]
May 9, 2014 – Commodities News Hot Asset For Today: Gold Gold has climbed a little form yesterday after dropping due to Janet Yellen’s testimony. Due to the Federal reserve’s plan to continue tapering the stimulus and raise the interest rate sometime in the future, gold may drop further. However, in the short term, there […]
The gold price has managed to hold above the Ichimoku cloud in the 4 hour chart and above the upward sloping trend line. The gold price holds support levels and the chances of an upward bounce towards $1,330 remain good. The gold price is expected to bounce from the current price levels and reach a […]
Overview According to our yesterday’s expections, the price close below the Support level of 19.20 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Support level to trade below while it is approaching the next support level. Then, the metal must test the Support level of 18.90 […]
Technical outlook and chart setups: 1. Gold seems to have bottomed around $1,287.00/90.00 levels. Please, note that it is also the fibonacci 0.618 support as shown here. A bullish reversal should be expected here and minimum upside extensions are pointing at $1,330.00 levels if not further. Recommendations are to remain long for now, risk remains […]
Technical outlook and chart setups: 1. Silver seems to have bottomed out at $18.90 levels last week. The current fall from sub $20.00 levels looks to be retracement which is complete at $19.00/20 levels. Please, note that the fibonacci 0.618 support is passing through the same region as well. Currently, the bullish momentum is keeping […]
Euro wobbles On Policy Change Hint Morning Report: 08:30 London • It was a busy day economic calendar yesterday and market activity did not disappoint. The dollar index and euro saw a huge volatility spike around the ECB press conference which saw president Draghi hint at policy change to come. […]
Gold prices remained stable Friday, backed by geopolitical hostilities in Ukraine, as investors eye fund flows and Asian physical demand for additional hints. However, the metal was on trail to post its second straight weekly drop as stronger US figures reflected the world’s biggest economy was recuperating well, supporting Federal Reserve’s stand to keep cutting monetary stimulus. “People […]
GOLD Unemployment insurance weekly claims In the week ending May 3, the advance figure for seasonally adjusted initial claims was 319,000, a decrease of 26,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 344,000 to 345,000. The 4-week moving average was 324,750, an increase of 4,500 from […]
GOLD: While GOLD may still be biased to the upside above the 1,273.80/1,268.39 levels, it continues to face downside risk. This leaves the commodity vulnerable to the downside towards the 1,273.80 level where a breach will set the stage for a run at the 1,268.39 level. Further down, a turn below the mentioned support will […]
Overview As it was expected yesterday, more bearish signals would be available after breaking the Support level of 19.50, then the metal would continue its downward move in case of breaking this Support level, thus providing us with another good opportunity to sell till reaching the Support level of 19.20 which is being tested now. […]
Gold prices were seen trading below the $1,300 threshold on Wednesday after dropping to its biggest one-day drop in three weeks as investors digest Yellen’s speech on the status of the world’s largest economy and the US central bank’s monetary stimulus. Gold prices for immediate delivery gained 0.15% to $1,290.90 an ounce at the time […]
Overview Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,286.44 on volume above the average. As you can see in the graph, our major Fibonacci retracement 38.2% (1,315.55) held successfully, and that caused price to start downward movement. According to the 4H timeframe we can […]
Gold price has broken yesterday the short-term support at $1,304 and pulled back towards $1,290 as expected by our analysis we posted yesterday. Gold price has pulled back towards the Ichimoku cloud as shown in the 4-hour chart below. Gold price after making a low at $1,268, has started a bullish pattern of higher highs […]
Gold traded below $1,300 per ounce following the largest one-day plunge in three weeks on speculation the US Federal Reserve would cut down more monetary stimulus as the economy recoups. Bullion for immediate delivery settled at $1,290.34 per ounce at 11:47 a.m. in Singapore, previously $1,289.88, when prices slipped 1.4%, the most since April 15. Gold plummeted […]
Aussie Leads On China Boost Morning Report: 08:30 London • This morning, financial markets are on the rise thanks to a positive session in Asia. Australian data came in above estimates and more importantly, Chinese trade balance showed a return to growth. […]
May 8, 2014 – Commodities News Hot Asset For Today: Gold Gold declined substantially yesterday in light of comments by Federal Reserve Chairwoman Janet Yellen. Though he statements were not all optimistic, she confirmed that Fed intends to continue tapering the stimulus and still plans to change the interest rate in the far future. Thus, […]
Technical outlook and chart setups: 1. Silver has retraced as expected from sub $20.00 levels yesterday. The metal is bouncing off the backside of resistance turned support line as seen here around $19.20/25 levels. Furthermore, the fibonacci 0.618 support is passing around the same levels. Recommendations are to initiate long positions now, risk remains below […]
Technical outlook and chart setups: 1. Gold pulls back as expected and discussed yesterday from sub $1,310.00/15.00 levels. The metal is seen trading close to $1,290.00 levels at the moment and is now expected to bounce higher. Please note that fibonacci 0.618 support is also passing through $1,288.00/90.00 levels. Recommendations are to initiate long positions […]
