Will the Fed kick tapering into the long grass? Morning Report: 08.15 London • This morning, markets are mixed with a whiff of positivity following last night’s speculation that the US Federal reserve may defer any tapering decisions until 2014. The S&P 500 rose sharply last night from the lows, while the the dollar index has continued […]
A rise in the US economy brings the Fed December meeting into the limelight. Tomorrow’s Fed decision will make more clear future picture for financial markets and gold. The health of the US economy was indicated by the recent economic data such as the jobs market, which is the key factor, and the inflation rate […]
Overview According to expections expressed last week, the price’s close below the Resistance level 19.75 would give new opportunities for sell signals. Currently the metal has already managed to close below the Resistance level to trade below and open the way towards 19.20 as the first target, then the metal must test the Support […]
Daily chart Crude Oil prices came down in the early hours of the opening session. However, this morning it resumed its upward trend again placed above its daily pivot at 96.78, which is only 10 pips from its line 3/8, it is also being overcome. This line 3/8 becomes the basis of its trading […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,235.00, we are still waiting for further downward movement. Anyway, In the daily chart, we can observe demand bar on volume above the average which may be a sign for smaller bullish corrective phase. We are still likely to see it […]
Price action in Gold has not made things any clearer with the current wave structure. There are two very possible scenarios still very possible and valid. The first scenario implies that wave 5 is not over yet and we should expect a new lower low towards 1,180-1,200. The second scenario implies that the decline from […]
Technical outlook and chart setups: As depicted here, the recent rally from 1,211.00 levels last week was reversed from 1,268/69 levels; which were past support turned resistance. Till the time prices are below 1,270/75 levels, it is recommended to refrain from buying. Also please note that the down channel line is still intact and we […]
China data sees markets open on back foot Morning Report: 08.15 London • Markets have opened the new week softer after Chinese manufacturing PMI came in below estimates. In addition, French manufacturing PMI disappointed, while German PMI was mixed. The S&P 500 futures opened down with heavy selling, but have since recovered the bulk of those losses. […]
The Fed meeting’s fears are increasing day by day, now it comes very close. The recent job data make tapering waves around the globe. The recent budget deal makes it clear. The main concern is the job growth is sustainable. The job market data is the key factor for Fed’s upcoming decision. Unemployment rate stood […]
Daily chart Crude oil could not overcome the barrier created by the top line of the trend channel and even more during yesterday’s session and continued retreating below its daily pivot at this point to quote almost 100 pips below this level and being supported at the line 3/8 (green line) which comes to the […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,220.00 on volume above the average. We are still waiting for further downward movement. In the daily chart, we can observe supply bar on volume above the average. We are still likely to see it testing […]
Gold prices have made an upward bounce that reached the 38% retracement. This was most probably wave A of the correction. Wave B down reached 1,222 and we believe it is time for another wave up. We expect wave C to complete the upward correction near the red resistance trend line that comes from 1,360. […]
Kiwi gains ground Morning Report: 08.15 London • Markets have found reasons to be cheerful this morning, with the S&P 500 nudging higher and the Dollar Index dipping back. Traders are weighing up US retail sales and the budget agreements. • The NZD/USD is seeing the biggest movement, up 0.44% after the decision to keep rates […]
The early tapering signals from healthy economic data and the US budget deal make gold prices drop. Yesterday’s budget deal made gold prices fall steeply to lower levels. Bears hit gold prices very badly. The US budget deal was reached by congressional Democrats and Republicans. Majority of Republicans supported it. Traders are waiting for today’s […]
Overview As it was expected yesterday, the metal would go downward in case of breaking the Support level of 20.20. Yesterday, the metal already broke it and currently is trading below this level. Presently, the pair is approaching the support level of 19.50 and is testing it continuing the bearish move. If the metal manages […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1.236.00 on volume above the average. We are still waiting for further downward movement. In the daily chart, we can observe supply bar on volume above the average. We are still likely to see it testing […]
Technical outlook and chart setups: The metal has paused after hitting 1,270.00 recently. As depicted here, this is the 0.382 fibonacci resistance level of the fall between 1,370 and 1,210 down swing. Lined up resistance levels are 1,280.00, 1,305.00, followed by 1,360.00 and higher; while support levels are at 1,210.00 and 1,180.00 respectively. It is […]
Gold prices have paused their rise from 1,210 exactly at the 38% Fibonacci retracement of the 1,360-1,210 decline. At the same price level there is also the broken Head-and-Shoulders neckline that is being back tested. Resistance is strong in the 1,260-70 area. If it is broken upwards, we could see a push towards 1,300. This […]
Markets shaky after stock market tumble Morning Report: 07.15 London • The Santa Claus rally took an early hit yesterday as the S&P 500 suffered its biggest one day fall of the winter. Markets are down once again this morning, with many potential catalysts. However the prospect of a US budget deal does seem to point […]
Daily chart During Wednesday’s session, Crude Oil gave back all the gains made during the previous day standing back its daily support and very close to its bottom line of the pivot trading range, which puts us back to the dilemma: on the one hand, it will continue to rise if it is kept above […]
Short betting was increased in yellow metal couple of times and longs slipped. Gold lost almost 25% year to date from its 2011 peaks. Speculations increases as the Fed date comes closer. Expectations of Fed tampering of its purchasing program makes gold move southward. Dip buying and the weakness in USD makes gold fly higher. […]
Daily chart The crude oil market remained in the uptrend during the Tuesday’s session and now crude oil is above the pivot point and will likely continue rising as it closed the previous session on an upbeat note. Therefore, its next target should be placed at $100 since the line 4/8 (blue line) is the same as the major […]
Overview From the today’s H4 chart, silver is still stabilizing above the Support level 20.20 and could not break it and currently is bouncing from it towards the Resistance level 20.50. So we still suggest waiting for closing above the Resistance level in case of bouncing from the Support level 20.20 to give us […]
Overview: Since our last analysis, Gold has been trading upwards, the price tested the level of 1,267.68 on high volume, we are still waiting for further downward movement. In the daily chart, we can observe demand bar on volume above the average. We are still likely to see it testing the weekly FE level of […]
Markets step off the gas Morning Report: 08.15 London • Markets have slowed down their appetite for risk taking this morning, with traders more keen to book profits than explore new angles. The S&P 500 is dropping off, while the dollar index continues its down trend. • The yen pairs are seeing the biggest movement, […]
After a good rally, gold halted near the resistance zone. Yesterday, the market was prevailed by bulls. We penned a positive divergence in charts, hence it came true. Thanks to all the bull bidders and to the indicators. For today’s trading session gold levels are following: NEAR TERM – 1 278 strong resistance. INTRA VIEW […]
Daily chart After falling slightly during the first session of the week, crude oil continued today its upward recovery above its bottom line as trading range becomes line 3/8 (green line). Although at this time it is found at the light resistance R-3 daily, we believe that even the next level is in line 4/8 […]
Overview: Since our last analysis, Gold has been trading sideway, around the price of 1.246.0, we are still waiting for further downward movement. In the daily chart, we can observe no demand bar on volume below the average and rejection of the previous swing low at 1,252.00, which means that gold may continue bearish movement. […]
Gold prices broke yesterday the downward sloping resistance trend line. Prices have most probably ended the downward move from 1,360 with a wave 5 failure (failed to produce new lows). Now our favorite scenario is that we should at least retrace the 38% of the decline from 1,360. So as long as prices trade above […]
Technical outlook and chart setups: The metal still remains locked in its trading range between 1,210.00 and 1,245/50. At the moment, it is testing the upper boundary (resistance) of the trading range. It is still recommended to remain flat for now. As seen here, major resistance levels are 1,350.00, followed by 1,440.00 and higher; while […]
