Gold futures were seen trading higher on Wednesday, climbing towards a two-week high before the release of the US Federal Reserve minutes from the Fed’s March meeting which is scheduled for release later in the day and expected to give a hint on the central bank’s monetary policy. Meanwhile the recent developments in Ukraine increased […]
Gold price has paused its upward move at $1,315 that is the first important short-term resistance. Trend remains up, but price looks like it is forming a double top. This could mean that a pull back towards $1,300 is very possible. This does not change our short-term bullish view. As long as Gold price trades […]
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Technical outlook and chart setups: 1. Gold is pushing higher into the $1,310.00/20.00 region at the moment. The metal is expected to rally up to $1,350.00 levels, which is also the convergence of trend line support turned resistance and fibonacci 0.618 retracement of the recent down swing as seen here. It is recommended to remain […]
April 9, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold has been increasing for past 3 trading days adding more than $30/ounce. Yesterday the price touched the 2 week high and turned just before reaching $1,315/ounce. We can see that traders are now aware of another increasing tension in Ukraine […]
Technical outlook and chart setups: 1. Silver remains virtually locked between $19.80/90 and $20.10/20, trading range since several sessions now. Directional conviction shall come on a breakout in either directions; above $20.20 or below $19.80. It is recommended to remain long for now, but avoid taking fresh positions at the moment, risk remains at $19.00/25. […]
Traders today eye the Federal Reserve releases the minutes of its March meeting today as investors weigh when the U.S. central bank will start to raise rates.The Job Openings and Labor Turnovers Survey (JOLTS) showed 4.173 million openings in February.This was above expectations for 4.020 million and up from 3.984 million in January. The number […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,314.13 on volume above the average. Our previous analysis is still active and we’ve got good progress. According to the daily chart, we can observe supply bar on volume below the average (no supply bar). Gold rejected from the […]
Technical outlook and chart setups: 1. Silver resumes its upswing finally towards $23.00 and $25.00 on the higher side. It is recommended to remain long for now, with risk at $19.00/25. As seen here, a push above $21.40 levels would be extremely bullish for the metal and the rally would accelerate after that. 2. Resistance […]
April 8, 2014 – Commodities News Hot Asset For Today: Gold Gold slightly corrected its Friday’s movement up when the price was pulled to $1,307/ounce. The price reacted on the U.S. Non-farm payrolls which showed slightly lower price than expected (194K instead of 200K). However, the price started to increase as the American stock has […]
Gold price made a new higher high confirming the uptrend in which it currently is. Gold price made also a higher low yesterday and held above support levels. Our supporting trend lines was held and price moved higher closer to our 38% Fibonacci retracement target of the decline from $1,391. Gold price is trying to […]
The yellow metal is in a downtrend from $1,390 levels. Currently, the metal is trading at $1,300 levels. The metal is taking support at $1,295 levels and facing resistance at $1,301.90 levels in H4 chart. Once the metal crosses the $1,301.90 level, it will fly up to $1,303.80, $1,307, and $1,310 levels intradaily. If the […]
Technical outlook and chart setups: 1. Gold had begun its counter trend rally towards $1,350.00 levels as expected now. It is recommended to remain long, with risk at $1,277.00. Please note that $1,345.00/50.00 is also the fibonacci 0.618 retracement of the recent downswing from sub $1,388.00 to $1,277.00 levels and back side of the support […]
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CRUDE OIL: With Crude Oil vulnerable following its Monday weakness, it may target further downside. However, we think it will be limited to the 99.81 level. On the upside, resistance resides at the 101.61 level where a break will aim at the 102.22 level. Further out, a violation of here will pave the way for […]
From the today’s H4 chart, the metal is trading between the support level of 19.75 and below the resistance level of 20.20 after its failure to break the resistance level last week and bounced from it to take a slightly downward move and currently is re-testing the support level of 19.75 repeating last week’s scenario. […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,306.50 on volume below the average. Our previous analysis is still active and we’ve got good progress. According to the daily chart, we can observe demand bar on volume below the average. Gold tested and rejected from our submajor […]
Gold futures clung to the biggest one-day progress in more than three weeks as US jobs data that traced analysts estimates numbed speculation the Federal Reserve will escalate the pace of stimulus reduction. Bullion to be delivered immediately settled at $1,302.22 per ounce at 11:25 a.m. in Singapore from $1,303.50 on April 4, when the metal rose […]
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April 7, 2014 – Commodities News Hot Asset For Today: Gold The price of gold peaked up on Friday and went all the way to $1,307/ounce. The reason why the price added about $20/ounce was slightly lower Non-farm payrolls data than expected. If we take aside the expectation and just look on the data we […]
Gold price confirmed its upward reversal on Friday by breaking above $1,295, and it is confirming that the short-term trend is up as a higher low and higher high has been formed. The decline from $1,391 has most probably been completed and I am now looking for a bounce towards $1,315 first and then towards […]
Technical outlook and chart setups: 1. Gold rallies post $1,300.00 levels after several trading sessions lately. The metal should be looking to rally either towards a new high above $1,400.00 levels or at least towards the back side of trend line around $1,340.00/50.00 for now. It is recommended to remain long for now, risk remains […]
Technical outlook and chart setups: 1. Silver has taken out the initial resistance (intermediary) at $20.20/30 levels before pulling back. At the moment, the metal is trading around $19.90 levels and is expected to resume rally soon towards at least $21.40/50 levels. It is recommended to remain long for now and also look to add […]
The US total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported on Friday. Employment grew in professional and business services, in health care, and in mining and logging. Technical view- Gold prices pushed up towards the resistance level of […]
GOLD: With GOLD closing higher to halt its two week correction, it now looks to extend that gain. Resistance resides at the 1,334.65 level where a violation will aim at the 1,359.00 level. Further out, resistance comes in at the 1,380.00 level where a break will aim at the 1,400.00 level followed by the 1,450.00 […]
Gold prices were seen climbing on Friday, as traders await the US non-farm payrolls report which is due later in the day and may show the current state of the US economy and may weaken the precious metal. The anticipating US non-farm payrolls report is forecasted to have strengthened in March and may tip-off the […]
Technical outlook and chart setups: 1. Gold seems to have formed an intermediary base at $1,277.00 levels for now. It is also the fibonacci 50% retracement of the recent rally as seen here. Bulls should remain inclined to stage at least a counter trend rally from current price, extending to $1,350.00 levels. It is recommended […]
Technical outlook and chart setups: 1. Silver seems to have re-tested the sub $19.50 levels again. Prices should pass through the $20.20/30 intermediary resistance to instil further confidence in the bullish structure. Recommendations are to remain long for now, risk remains at $19.00 levels. 2. Support levels are at $19.00, followed by $18.75, and lower, […]
Overview: Since our last analysis, gold has been trading sideways, around the price of 1,291.00, we are still waiting for a larger movement. Our previous analysis is still active and we’ve got good progress. According to the daily chart, we can observe supply bar on volume below the average. Gold tested and rejected from our […]
Overview As shown in the today’s H4 chart, the metal is stabilizing above the Support level of 19.85 after its failure to break the Support it since last week. Currently, we must wait for re-testing the Support level again and closing below to get the bearish move opportunity. In that case we will get a […]
