Technical outlook and chart setups: 1. Gold rallies quickly into resistance at $1,260.00 in early trade today. Minimum measured level here is the $1,267.00/70.00 region. It is recommended to remain flat till then and plan to initiate short positions. 2. Resistance for now is at $1,267.00/70.00, followed by $1,295.00, while support is at $1,240.00, followed […]
GOLD: While our immediate bias on GOLD remains higher on correction, the commodity will have to take out the 1,267.75 level, its Dec 10’2013 high to convince the market of price extension. However, as long as the mentioned level continues to hold as resistance the risk remains lower despite the mentioned recovery. On the upside, […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,244.90 on high volume.We can also observe that demand has entered the market at 1,237.50 which caused the price to start small bullish movement. If the price breaks the level of 1,245.00 on high volume, we may see re-testing […]
Kiwi slips on quiet morning Morning Report: 08.45 London • Markets are quiet this morning, with a busy economic data set due in the afternoon. The one movement of note is on the NZD/USD which is falling back heavily this morning. • Elsewhere, the dollar pairs are generally softer, though so far movement is […]
Gold prices are making an upward bounce that is not impulsive. Prices are making an overlapping formation with positive slope and have reached the 38% Fibonacci retracement of the decline from $1,256 to $1,233. Prices are moving upwards in a corrective pattern within the purple trend channel as shown above in the one hour chart. […]
Gold is witnessing a range bound trading. Higher levels it suffered with selling pressure, whereas lower level buying is supporting. Either side breakout will see direction on prices. This year as well, the yellow metal is trading in a bearish mode. Gold lost its safe heaven image after correcting 30% from its peaks. The falling […]
Daily chart Looking at the daily chart we can see that this Thursday the Crude Oil closed with a candle of indecision, which confirmed what we mentioned before, and we do not yet have a picture of prevailing. However due to that the current price is on its neutral line of 4/8 (blue line), also […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,242.70 on average volume.We can also observe that demand has entereted the market at 1,233.80 which caused the price to start small bullish movement. If the price breaks the level of 1,256.00 (FE 61.8) on high volume, we may […]
Aussie collapse on employment shock Morning Report: 08.45 London • This morning, the Australian dollar is dropping heavily after employment change data came in well below estimates. The AUD/USD is down 1.34%, while the AUD/JPY is off by 1.17%. • Commodities are also suffering, with gold down by 0.33% and silver off […]
Gold prices have made a small impulsive move down from $1,256 to $1,233. An upward bounce has followed that made a lower high. Now prices are turning down again and are going to test the lows. If prices manage to break the lows as shown by the red solid area in the chart below, then […]
Technical outlook and chart setups: 1. Gold retraced yesterday and possibly bottomed out at $1,234.00. A rally should push prices above $1,255.00 mark, towards the $1,267.00/70.00 region. Recommendations are to watch out for any bearish formations at $1,267.00 and initiate short positions. 2. Immediate resistance is at $1,267.00, while supports are spread through $1,234.00 (intermediary), […]
Gold has rebounded from the lower levels and saved its 6-month low. It arrested at strong resistance level of $1,255. Unwinding of the stimulus program in this month is a big problem for gold in coming months. Gold prices has turned again into a bearish note. Recent data on the streets gave a strong recovery […]
Daily chartВ The Light crude oil rose 1.7 per cent today and closed at 94.34 dollars per barrel after the announcement on the sharp decline in crude oil reserves in the United States during the last week. Buyer activity in the market was highly favored today by the announcement of the Department of Energy that […]
Overview: Since our last analysis, gold has been trading downward, the price tested level of 1,235.33 on volume above the average.We can alsoВ observe that supply has entereted the market at 1,253.00 (selling climax) which caused price to start bearish movement.If the price breaks the level of 1,256.00 (FE 61.8) on high volume, we may […]
Gold prices have most probably completed the upward three wave correction from $1,180. Prices have broken the short term upward sloping trend line and this is our first bearish signal. Our next bearish signal will come when and if prices break below the intermediate low at $1,220 and thus confirm that the upward move is […]
China data halts rebound Morning Report: 08.45 London • After a strong rebound last night that saw US markets most of the loss from Monday, cautious trading has returned following poor Chinese lending data. • The dollar index is back on the rise, causing a ripple effect across the main forex pairs. […]
Daily ChartВ The American Petroleum Institute reported a decrease of 4.1 million barrels in crude supplies for the week ending January 10. The analysts had forecast a fall of 1.6 million barrels in the crude supplies. As a result of this announcement crude oil prices recovered their loss of the previous session, which was above […]
В Fundamental analysis Futures on light crude oil rebounded this Tuesday in the United States following the losses in the previous day, waiting for data on key weekly supply of the United States determine the intensity of the demand for oil from the largest consumer of black gold of the world. However, amid the fundamental aspect […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested again the level of 1,254.79 on average volume.We can alsoВ observe that demand has entereted the market at 1,244.00 which is a sign that selling at this stage looks risky. If the price breaks the level of 1,256.00 (FE […]
The upward bounce in GOLD was incomplete that is why we saw a higher high yesterday. Prices where expected in our previous analysis to test $1,260 after breaking above $1,245. The rise from the intermediate low atВ $1,218 seems now as a complete 5 wave upward move and I think this is the end of […]
Yen wins following overnight sell-off Morning Report: 08.45 London • Last night US stock markets experienced their worst sell off since November, though thankfully things are a little more cautious this morning. • The yen pairs are seeing the biggest movements this morning and big sell offs yesterday. The GBP/JPY is leading the […]
Gold is holding the ground and moving to higher levels. The starting of the year 2014 makes some glimpses on gold. Strong lower level buying shows green ticks in the chart. To start a new bull run, prices will need to consolidate 6 months before it makes a new cycle. Gold has successfully crossed this […]
Technical outlook and chart setups: 1. Gold rallied through the $1,255.00 levels yesterday and a push today could see $1,267.00/70.00 before pullback. It is recommended to remain flat for now and look to enter on a dip. 2. Immediate resistance is at $1,267.00, while supports are spread through $1,220.00, followed by $1,210.00 (the fibonacci 0.618 […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,254.79 on average volume. The price tested our upper station target around the level of 1,248.00 . We can alsoВ observe that strong demand entereted market at 1,223.00 and 1,230.00, which is a sign that selling […]
Gold prices have made a new higher high as expected by our last analysis. Prices have now formed three waves up and the upward correction could very well be over. However, there could be more upside potential towards our initial target of $1,260-70. Gold prices are in a short-term uptrend. Short-term support is found at […]
2013 was one of the worst years for gold in a generation and the strangest part of it is that this loss came during a time in what should have been a banner year for gold. When the Fed launched its QE1 and QE2 programs, gold posted huge gains but with QE3, we only had […]
Dollar dips following jobs drop Morning Report: 08.15 London • This morning, we’re seeing some strong pressure on the US dollar following Friday’s US jobs numbers which showed one of the slowest increases for three years. Asian markets appeared to shrug off the news, but the dollar index is really feeling the pressure. […]
Gold is trading near the crucial zones. Gold started very well in the new year. It holds June lows and trading marginal higher at the level $1,251. Disappointing US data makes gold fly towards higher levels. Unemployment rate fell to 6.7% from 7%. It seems a last bull leg for gold towards drifting the new […]
Daily chartВ The crude oil opened today under its weekly pivot, then that is the last Friday move more than 130 pips above the support that is at 92.00. We believe that the trend for this new week will be bullish. This is due to its weekly pivot located at the bottom line of its […]
Technical outlook and chart setups: 1. Gold has rallied towards $1,250.00 in early trade today. Another high around $1,267.00/70.00 could be expected in 1-2 trade sessions before a meaningful correction takes place. The best level to go long would be around $1,206.00-$1,210.00. 2. Immediate resistance is at $1,267.00/70.00, while support is at $1,220.00, followed by […]
