Gold prices are rising as expected from the first support area of $1,220 that was tested. Gold is most probably unfolding in an upward wave C that could put to the test the $1,275 resistance level. Our target for a complete wave C is $1,290 ($15 higher or lower). The $1,290 target is derived if […]
Overview: Since our last analysis, gold has been trading upwards, as we expected, the price tested the level of 1,237.37 on average volume. The price rejected successfully from our SR zone at 1,219.00. We can also В observe that strong demand entereted market at 1,223.00, which is a sign that selling at this stage looks risky. […]
Commodities rise ahead of Payrolls. Morning Report: 08.15 London • Markets are generally subdued this morning ahead of US Non Farm Payrolls at 13.30. The dollar index is on the back foot, helping dollar pairs to rise and commodities to find some buyers. • Silver is up 0.92%, with gold up 0.52%. […]
Gold is trading in a tight range holding its support at the level of $1,220. On the upper side it facing selling pressure from the level of $1250. Until it breaks either side, we can’t see further move. We could recommend selling on rallies. In the daily charts the momentum indicators show a mixed bag, […]
Daily chart After having reached a minimum of 91.24 during the session on Thursday, crude oil was very close to the end near the minimum of eight months. However, not having found sufficient support, the price was quoted over 92.00 dollars a barrel. Having closed in this way, the CL has left a long wick […]
Technical outlook and chart setups: 1. Gold is stalling between $1,224.00-$1,230.00 for now. It is still recommended to remain flat at current levels. 2. Intermediary resistance is at $1,250.00, followed by $1,267.00/70.00, while supports are spread through $1,207.00 (the fibonacci 0.618 support level), followed by $1,200.00 and $1,182.00 respectively. 3. The structure reveals that a […]
Prices have fallen towards $1,225 as we expected from our last analysis. This decline could very well be wave B of the corrective pattern we are currently in. So now we should expect an upward bounce as wave C towards $1,275. Short term resistance is found at $1,245 and then at $1,275. Short term support […]
Daily СЃhart.В Crude oil futures settled at a six-week low on Wednesday, dropping below $93 a barrel after the U.S. government report showed that crude supplies fell for a sixth straight week, but by less than expected. Still, news of strong growth in private-sector jobs in December helped buoy prospects for energy demand, while concerns over […]
Overview: Since our last analysis, gold has been trading upward movement, as like we expected, the price tested level of 1,226.94 on lower volume (below the average). The price rejected again from our SR zone at price 1,219.00 . We can also observe selling climax at 1,218.00, which is a sign that selling at this […]
Chinese CPI dip limits early movement. Morning Report: 08.15 London • Lack lustre Australian building approvals and Chinese PPI data more than offset strong Aussie retail sales data across Asian this morning and this has translated into cautious trading in the early European session. • The dollar pairs are making moderate gains with […]
Technical outlook and chart setups: 1. Gold has broken out the short-term resistance line, as seen in the daily chart. Furthermore, the $1,250.00 level has also been probed by the bulls recently. The recommendations are to remain flat for now. 2. Immediate resistance is seen at the $1,267.00/70.00 level followed by $1,295.00, while support is […]
Daily chart: It seems crude oil has found support in the area delimited by the 0/8 line (blue line) and the bottom line of its trend channel. However, we must be careful as the price could fall below 93.75 until it finds a new support line on the extreme of -2/8. Therefore, we can enter selling […]
Overview: SSince our last analysis, gold has been trading downwards, the price tested again level of 1,223.00 on lower volume (volume leveling off). The price tested again Fibonacci Retracement level 38.2% at 1,223.00 (previous swing high). We can also observe selling climax at 1,226.00, which is a sign that selling at this stage looks risky. […]
Dollar dominates on recovery hopes Morning Report: 08.15 London • This morning, the strong US dollar continues to dominate market movements, with the yen pairs being pushed higher across the board. • The USD/JPY is up 0.33%, with the GBP/JPY leading the pack, up 0.43%. • The Canadian dollar is […]
FOMC meeting minutes and Non-farm pay roll numbers attract investors attention. The jobs data reflects on the gold prices. Fed will start tampering in January. If the US economy keeps on turning healthy, then Fed will completely scale back its bond purchasing program in upcoming meetings. Last week we mentioned regarding the interest rates. If […]
Gold prices have not managed to break above the short-term resistance level at $1,245. We continue trading within an upward corrective wave, and our main view is to stay neutral until a good sell opportunity arises near our bounce target of $1,270. Prices could have finished wave A of the upward correction and could be […]
Overview: Since our last analysis, gold has been trading downwards, the price rejected from the level of 1,216.61 and tested the level of 1,247.89 on very high volume, as we expected. Price rejected from Fibonacci Retracement level 38.2 % at 1,223.00 (previous swing high). I placed Fibonacci levels to find potential upper station and I […]
Dollar Rides Back Morning Report: 08.45 London • This morning, stock markets are looking for positives after the S&P 500 closed down for its third straight day. • On currency markets, the dollar index rise causing dollar pairs to slip back this morning, with the Australasian pairs hardest hit. • […]
Gold keep on printing bear image on itself from last 2 years. The same picture remains in the new year 2014 as well. After holding the June’s low, gold made some pullback by lower level buying and standing above uneconomical levels. Gold was flying high after Markit’s service sector fell to 55.7 from 55.9. We […]
Daily Chart Despite very few movements, the Light crude oil continued the first day of the week with his bearish streak intending to close even below the 8/8 line (blue line), the same as its last line of support according to the lines of g, Murrey J math. However, at this point it is also the central […]
Technical outlook and chart setups: 1. Gold attempts to extend its rally towards the $1,267.00/70.00 level for now. It is recommended to remain short with risk at $1,255.00 and also add fresh short positions here. 2. Resistance is at $1,267.00/70.00 for now, while support is at $1,182.00 followed by $1,180.00 and lower respectively. A break […]
Monthly Chart Crude oil prices fell to 93.85 last week, thus beginning the new year with a sharp fall. There has been a lot of talk about more supply coming from Libya, and of course that is going to upset the balance of supply and demand, while at the same time to strengthen […]
Overview: Since our last analysis, gold has been trading upwards, the price rejected from the level of 1,246.03 on lower volume. Price broke our FR 61.8 % (1,237.00) , which is sign that we may see larger bullish correction. There is always a chance that price may test previous swing high at price 1,220.00 before […]
Gold continues to move higher towards our corrective bounce target $1,260-70. We believe that Gold prices are in a corrective upward pattern that will complete near $1,270-$1,300. Prices have short-term support at $1,225 and then at $1,210. Short-term resistance is found at $1,245 and at $1,270. Our exit short signal was given at $1,220 and […]
Pound drops on austerity extension Morning Report: 08.30 London • This morning, this pound is suffering after UK Chancellor announced an extension of austerity measures. The GBP/JPY is off by 0.56%, with the GBP/USD down 0.37% and the EUR/GBP up 0.45%. • The yen pairs are generally lower, though the USD/JPY is off […]
Gold continues its upper move after hitting the upper high at $1,182. It holds the June’s low and close above the uneconomical level $1,200, which is a bull factor. In the weekly and daily charts, oscillators indicate positive divergence, hourly chart gives an overbought sign. We are still on the bearish note for the level […]
Technical outlook and chart setups: 1. Gold has risen past the $1,230.00 level after printing lows at $1,182.00 last week. Please note that it is at the 0.618 fibonacci resistance in $1,230.00/40.00 region. 2. Immediate resistance is at $1,245.00 followed by $1,250.00, $1,267.00 and higher, while support is at $1,182.00 followed by $1,180.00, respectively. 3. […]
Daily Chart Oil prices collapsed on the first trading day of 2014 as Libya prepared to restart a major oilfield, and with speculation of a sharp rise in crude stockpiles in Cushing, Oklahoma. Prices were also undermined by expectations of a further dip in fuel demand as a winter storm bore down on the northeastern […]
Overview: Since our last analysis, Gold has been trading upwards, the price rejected from the level of 1,182.14 (met both our down stations) and tested level of 1,238.33 on volume above the average. We got FR 61.8 % at the 1,237.00 price, which was held successfully, so we may expect further bearish movement. We can […]
In yesterday’s analysis we noted that the bigger degree upward corrective move started. Prices opened with a gap up around the $1,225 price level. We mentioned yesterday that long positions should only be considered if the gap was closed. We were expecting a pull back down and then another move upwards. Prices moved exactly as […]
