Gold gains in pre Christmas lull Morning Report: 08.15 London • Markets have entered a pre-Christmas impasse with gold the only real mover of note so far. • The yen pairs have a slight negative bias as the US dollar index continues its down trend. • The pound is showing some strength this morning […]
Since 2008 Gold has almost doubled in price fueled by safe investment amid QE. From the peak of 1,920 it almost corrected more than a half within 2 years. Currently, it is trading at a crucial junction levels. Gold prices remain weak for the remainder of the year as investors await more clear picture from […]
Overview Today’s H4 chart shows that the metal is trading between the Support level of 19.50 and below the Resistance level of 19.75 after its failure to break the Resistance level yesterday and bounced from it to take a slightly downward move and currently is re-testing the Support level of 19.50. Presently, we suggest waiting for […]
Gold prices remain below the 1,245-58 resistance area. We prefer to remain neutral as there is no clear trend in the short term and prices are somewhat oversold in the daily level. Although the longer term trend remains down, we believe that there is increased probability of an upward bounce towards 1,300. Our elliottwave count […]
Technical outlook and chart setups: The metal has been locked in a trading range between 1,210 and 1,250 for the last several trading sessions. It is recommended to remain flat for now until a breakout is confirmed. The immediate resistance is 1,258/60 levels, followed by 1,300.00 and higher up, while 1,210 is immediate support, followed […]
Yen slips but markets treading water Morning Report: 08.15 London • This morning, markets are generally waiting for further stimulus after digesting Friday’s Non Farm Payroll numbers. The early morning data has been mixed with Chinese PPI dropping again 1.4% and Australian ANZ job advertising dipping 0.8%. • The yen pairs are the biggest movers with the […]
China is one of the world’s largest producers of the yellow metal, but not a single bar leaves the country. It mainly relies on imports. October was China’s second highest month of gold, according to HK customs data. In 2011 and 2012 combined China imported more gold than in 2013. Year to date China’s gross […]
Monthly chart Early Friday, the Labor Department reported that the U.S. generated 203,000 jobs in November. Economists polled by MarketWatch forecast a net gain of 180,000 jobs. The unemployment rate fell to 7% from 7.3%. “The entire week was a good-quality crescendo of good news — all of it supportive to the week’s concluding […]
Daily chart On Thursday we have observed very little movement of Crude oil; it barely moved 1 pip from the opening to the closing of the day and just showed some slight movement during the day. Today, similarly, there is very low turnover and CL is facing resistance at the daily pivot which is located […]
Overview: Since our last analysis, Gold has been trading downward movement, the price tested the level of 1.228.00 on high volume. In the daily chart, we can observe supply bar on volume above the average and rejection of the previous swing low at 1,252.00, which means that gold may continue bearish movement. We are still […]
Gold prices are in their final stages of their decline before making a larger degree upward correction. Short term trend is down and we expect this final 5th wave to end near 1,200$. Prices are still inside the downward sloping channel and below the short term downward sloping trend line. Short term resistance is found […]
Technical outlook and chart setups: The metal is almost unchanged since last trading session and is confined between 1,220/40 levels. It is still recommended to remain flat for now and watch for further clarification. Immediate resistance is the 1,258/60 region, followed by 1,275/80, 1,325.00 […]
Morning Report: Gold makes early lift ahead of NFP Morning Report: 08.15 London • This morning, financial markets have a slight positive bias ahead of today’s Non Farm Payroll release. Stock markets are on the rise, while gold makes early gains. • Elsewhere, the yen pairs are on the rise reversing three days of […]
GOLD The economic data once again raises so many speculations around the gold and USD. The positive economic data resulted in tampering would come sooner than expected. Barclay’s have forecasted a stronger than expected reading of 200 thousand increase in nonfarm payrolls. UBS has now cut its 2014 gold price forecast to $1,200. China’s demand […]
Overview As it was expected yesterday, the metal will reverse its bearish move to start its uptrend and open the way towards 19.75 in case of closing 4H above the Resistance of 19.50. Today and as shown from the today’s H4 chart, the metal already took a bullish move after it has managed to […]
Overview: Since our last analysis, Gold has been trading downward sideways movement, the price tested the level of 1.251.39 on ultra high volume (buying climax). In the daily chart, we can observe panic demand bar on ultra high volume and rejection of the previous swing low at 1,252.00, which means that gold may continue bearish […]
Daily chart After rising last Tuesday, Crude Oil is maintained with short strokes and above its line of 3/8 the next two days. Oil prices closed at 97.32 yesterday and now is at 97.60 with which we can see has traveled just under 30 pips although this represents a price above the previous peak reached […]
Technical outlook and chart setups: The metal has produced a morning star candlestick pattern just ahead of the 1,210.00 support as seen on chart here. We need a rally that pushes through at least 1,258.00 levels to confirm, that the short term recovery might […]
Gold prices bounced upwards as expected for the bigger degree wave 4. We noted yesterday that the wave formation was not a complete impulse down from 1,360 and so prices in order to complete 5 waves down needed to make an upward bounce for wave 4 of bigger degree and a new lower low for […]
Markets wary ahead of tomorrow’s NFP Morning Report: 08.30 London • Financial markets have a slight negative bias this morning after a volatile session yesterday. ADP Payrolls came in above estimates, but focus is firmly on the prospect of the Fed tapering its stimulus activities and of course tomorrow’s Non Farm Payrolls. • Gold is selling […]
GOLD The yellow metal obeyed us and gave a good bounce thanks to the heaven bids and +ve divergence indicators. If we give an extension to the upper trend line, it will show the resistance at $1,251.4. Until it crosses and sustains above the white upper trend line, it looks towards south near supports. The […]
Overview As it was expected last week, Silver reversed its upward trend after its rebound from the Support level of 19.00. Currently, it is approaching the Resistance level of 19.50 trying to break it through to continue its bullish move. More buy signals would be provided in case of closing 4H above this Resistance […]
Weekly chart In our weekly chart, Crude Oil did yesterday what so far is a bullish engulfing candle is the same as moving over 400 pips from the opening of Monday this week. This bullish outlook was more intensified yesterday after the American Petroleum Institute and Energy in its weekly data report a fall of […]
Overview: Since our last analysis, Gold has been trading downward movement. Just as we expected, the price tested the level of 1,211.37 on high volume, we expect more bearish continuation. In the daily chart, we can observe weka demand bar on volume below the average and rejection of the previous swing low at 1,252.00, which […]
Gold has extended its 3rd wave down from 1,360$ and therefore there is more downside to be expected. Short term support is found at 1,200-1,190. Short term resistance is found at 1,240-50. We believe that the downward move from 1,360 is not over and we should expect wave 4 and 5 to unfold. Wave 4 […]
Gold trading at $1,224 marginal up in Asia’s trading session. In yesterday’s trade it made 5 month’s low at $1,214.7. Tomorrow is a big day for gold, non-farm payroll data will be unveiled, which is the key data for the Fed’s decision. If the data printed healthy then the gold will further decline, currently it […]
Overview As it was expected last week, more bearish signals would be available after breaking the Support level 19.50 yesterday, then the metal continued its downward move after breaking the Support level, thus providing us with another good opportunity to sell till reaching the Support level 19.00 which is tested now. Currently and as shown […]
Overview: Since our last analysis, Gold has been trading downward movement. Just as we expected, the price tested the level of 1,217.46 on high volume, we expect more bearish continuation. In the daily chart, we can observe supply on volume above the average and rejection of the previous swing low at 1,252.00, which means that […]
Technical outlook and trade setups: The metal has breached 19.00 levels which was previous support and is expected to continue sliding further down towards 17.00 levels in the near term. It is hence recommended to sell intraday rallies from here on. The structure still […]
Yen drops further on stimulus speculation Morning Report: 08.30 London • Increased speculation over Japanese stimulus plans have helped the yen pairs push higher again this morning.The GBP/ JPY is showing particular strength on market talk of a forthcoming sovereign debt upgrade. The EUR/ GBP has continued its downwards trend as the good news keeps coming […]
