Overview Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,279.56 on volume above the average. As we already posted in the previous analysis, we got submajor Fibonacci retracement 61.8% at the price of 1,307.00 and that level held successfully. We can observe supply on volume […]
Dollar Slipping Lower On Taper Talk Morning Report: 08:00 London • This morning, the dollar index continues to dip after the FOMC confirmed it would continue to taper its asset purchase program as the economy picks up. This has been bad news for the US dollar, but so far has had a mild positive effect on […]
The more time Gold price remains below the blue downward sloping trend line resistance, the more possible it is to witness a downward spike breaking support levels and pushing price to $1,250 or even lower. Gold price remains in a down trend. Price continues to make lower lows and lower highs. Bulls are weak and […]
Investors turn to gold as a safe haven investment when the economy is in poor shape. Therefore, people who trade gold should be on the lookout for any indicators that the economy could pick up, as this can drive the price of the precious metal down. One factor that could decrease gold demand is a […]
May 1, 2014 – Commodities News Hot Asset For Today: Gold Despite receiving a boost yesterday after US GDP grew less than expected, gold is moving back down as safe haven demand keeps dropping due to yesterday’s decision by the Fed to continue its plan to taper the stimulus. Also, worse than expected Chinese manufacturing […]
Technical outlook and chart setups: 1. Silver is again trading at sub $19.00 levels, just shy of $18.90 lows printed last week. A bullish bounce here could again test $19.80 levels. A break below $19.00 again could be extremely bearish though. A tweezer bottom formation is seen on the chart view here indicating a bullish […]
Technical outlook and chart setups: 1. Gold is trading lower around $1,289.00/90.00 levels after bouncing off the resistance line from $1,300.00/04.00 levels for now. The metal should see support coming in at $1,280.00/82.00 at the moment. However, a break of $1,270.00 would drag prices through $1,230.00/40 levels at least. Recommendations are to remain flat for […]
Review- ADP non-farm employment data Private sector employment increased by 220,000 jobs from March to April, according to the April ADP National Employment Report. Companies hired more workers in April than at any time in the previous five months, signaling further progress in the labor market, a private payrolls report showed. The 220,000 increase in […]
WTI is currently approaching the sell target 100.00 that was set in our earlier report for this instrument. The price recently broke the lower support trendline of the wide daily up channel from the start of this year. This was followed by one unsuccessful attempt to break back into this up channel (as you can […]
Overview Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,292.30 on volume below the average according to the daily chart. We are still waiting for a larger movement on higher volume. As we already posted in the previous analysis, we got submajor Fibonacci retracement 61.8% […]
Gold dived prior to Tuesday’s Federal Reserve policy meeting, losing its footing for the third consecutive day as investors braced for another bunch of figures that, severe winter aside, should lead to an improving US economic health. Gold to be delivered in June dealt at $1.30 or 0.1%, to $1,295 per ounce in electronic trade, while June silver […]
Markets Swap Gains & Losses Ahead Of Fed Morning Report: 08:30 London • Markets have been volatile overnight ahead of today’s FOMC announcement at 19.00. No change is expected to rates, but the contraction of the asset purchase program has been the centre of much speculation. […]
Gold price remains weak. The trend remains down. Price has managed to make an upward bounce but with no real progress as the price got rejected just below the downward sloping red trend line. As long as Gold price remains below this trend line, I prefer short positions. The price is still stalling inside the […]
Overview In today’s H4 chart, the metal is still trading between the support level of 19.20 and below the resistance level of 19.50. After its failure to break the resistance level yesterday and the bounce from it, it took a slight downward move. Currently, it is retesting the support level of 19.20 again. Presently, we suggest […]
Forecast- Traders eye today’s ADP non-farm employment data, the GDP and major event – the FOMC statement. The job creation data is likely to show that the U.S. growth is in a higher phase. The Federal Reserve is expected to affirm its own confidence in the health of the recovery by taking another step to […]
Technical outlook and chart setups: 1. Silver remains subdued within $19.30/50 levels for now. The metal needs to break above $20.40 to confirm a change in trend though. Recommendation for now is to remain flat for now and await further confirmation. 2. Support is at $18.90, followed by $18.00 levels while resistance is seen at […]
Technical outlook and chart setups: 1. Gold is seen to be pulling back from the intermediary resistance line passing around $1,300.00 levels for now. A drop below $1,270.00 would drag prices towards $1,230.00/40.00. Meanwhile, a break higher should take it higher towards $1,330.00. At the moment, recommendations are to remain flat. 2. Support is seen […]
Overview Based on H4 chart, silver is still stabilizing between the Support of 19.20 and the Resistance level of 19.50 after its rebound from the Resistance level of 19.75 last week. If silver continues its bearish move and manages to break the Support level of 19.20 which is tested now, it will give a strong […]
Overview: Since our last analysis, gold has been trading downwards, as we expected, the price tested and rejected from the level of 1,306.28 on volume above the average (Fibonacci retracement 61.8%). As we already posted in the previous analysis, we got submajor Fibonacci retracement 61.8% at the price of 1,307.00 and that level held successfully. […]
April 29, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold started to fall as the U.S. Pending home sales data came out better-than-expected. The price has been currently falling as the positive outlook over the fundamental data taking over. The price might drop even lower if the U.S. CB Consumer […]
Gold futures were seen trading below the $1,300 threshold on Tuesday, while US reported an upbeat housing data and investors focus on the two-day monthly policy meeting held by the US Federal Reserve (Fed) which will begin later in the day. Bullion futures for June delivery edged 0.78% lower to $1,289.10 an ounce on the […]
Markets Bypass China/Ukraine Concerns Morning Report: 08:30 London • This morning financial markets have a positive edge despite the US and Europe increasing sanctions on Russia and Chinese provinces showing signs of slowing. • Commodities are the […]
Gold hits a sag down under $1,300 an ounce, paring down a monthly increase, on assumption that the Federal Reserve will further cut down U.S. financial stimulus as it begins a two-day policy assembly today. Bullion for immediate delivery exchanged at $1,295.69 an ounce at 8:50 a.m. in Singapore from $1,296.74 yesterday, when financial values […]
Gold price could not manage yesterday to break above the short-term Ichimoku cloud resistance and has also been rejected right below the downward sloping red trend line resistance. The trend is down and the bearish scenario of a new lower low than $1,268 is gaining more points. As it can be seen above in the […]
Technical outlook and chart setups: 1. Silver is trading around $19.50/60 levels for now having formed lows at $18.90 last week. It needs to break $20.40 levels though before it can be confirmed that the metal has turned bullish. Recommendations are to remain flat for now. 2. Support is at $18.90, followed by $18.75, and […]
Technical outlook and chart setups: 1. Gold is reacting at trend line resistance for now as expected around the $1,300.00/04.00 levels. A break above the trend line and subsequently $1,330.00 is required to confirm that the metal has turned bullish. Recommendations for now is to remain flat and await further evidence. 2. Support is at […]
Today traders eye the CB consumer confidence and the FOMC meeting (tomorrow). Consumers have grown more optimistic about the future. The latest report on consumer confidence is expected to reflect the hope that better days lie ahead. Economists surveyed by MarketWatch expect the Conference Board’s consumer confidence index to climb to 83.3 in April from […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,306.28 on volume below the average according to the 4H timeframe. As we already posted in the previous analysis, we got submajor Fibonacci retracement 61.8% at the price of 1,307.00 (currently on the test). Gold is […]
Silver recently reversed sharply up from the support level 19.00 that was set as the sell target in our earlier report for this previous metal. The strength of the support at 19.00 can be clearly seen when you examine the previous price action from last December. The latest upward correction from 19.00 stopped between […]
April 28, 12014 – Commodities News Hot Asset For Today: Gold The price of Gold has been pulled up for the same reason as the Yen. Tension in Ukraine and additional sanctions from the U.S. and European Union are increasing the demand for safe-haven assets. With the higher price, physical demand for gold might weaken […]
