Technical outlook and chart setups: The metal continues its slide downwards towards the swing lows at 1,180.00 levels as discussed yesterday. The structure reveals that high probability is towards printing fresh lows towards 1,130/50 levels at least before a possible reversal. It is recommended […]
Gold prices have broken the lower boundaries of the sideways consolidation we mentioned in yesterday’s analysis. The lower support boundaries were important if the upward bounce was to continue. We expected prices to make another upward bounce, but support failed to hold prices. Once support was broken, it was a matter of time to see […]
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 […]
GOLD In Asian’s trading session gold pulled back up to $1224 currently trading marginal up at $1220. Traders are not running to buy gold at lower levels, hence there is no demand at lower levels. Each and every trader’s eyes are closely watching the Fed actions. Tampering waves are spreading which takes away the glitters […]
Weekly Graphic Crude Oil started the week with more than 130 pips higher. This scenario came after manufacturing data from China which has provided vital support for crude oil, and there is some optimism that an increase in manufacturing activity will support demand for oil more was known. HSBC’s monthly survey of China’s manufacturing sector […]
Gold dipped below the previous low $1277 trading at $1221 on Asia’s trading session. Yesterday in the last hour of trading session gold formed a small support at $1217.4 on the hourly chart. I recommend go long with sl 1217 for the targets 1224 1227. Above 1224.5 could pull back little bit more towards 1225 […]
Monthly chart Crude oil ended the previous month below its weekly and monthly pivot at 91.77 reaching a minimum near its S – 1 weekly. At the beginning og the month, black gold tries to recover after 3 months of constant crashes, however this attempt will be limited primarily by your monthly pivot at 93.73 […]
Overview: Since our last analysis, gold has been trading sideways around the price level of 1,238.00, we expect more bearish continuation. In the daily chart, we can observe weak 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. We are […]
Technical Outlook and Chart Setups: The metal has formed a sloping channel resistance line in the recent days as shown here. Till the time, Gold is below the channel resistance line, there are all possibilities for fresh lows printed below 1180.00 levels. At the moment, the fibonacci 0.786 support is again being tested as seen […]
Gold prices are still in a corrective phase and there seems to be a sideways pattern forming that can help us define important support and resistance levels that if broken could push prices signifiacantly towards either direction. Prices have moved impulsively from 1226 to 1258. After that high was made, prices are trading within that […]
China data trumps Thanksgiving lull Morning Report: 08.30 London • This morning, stock markets are experiencing their typical post Thanksgiving lull, but strong Chinese manufacturing data is helping to keep risk assets in the black this morning. • The big winners are the Australian and New Zealand dollars, espcially after strong Australian building approvals and company operating […]
Daily Chart Crude oil is ascending slowly after remaining at almost the same positions during yesterday’s session, thus it gained almost 60 pips from its opening, however due to strong pressure in the area of line 2 / 8 (red line), it would be very risky to buy this below as the testing of these […]
Overview From the today’s H4 chart, yesterday the metal failed to break the Support level 19.70 to bounce again from it and trade between the Support level 19.70 and the Resistance level 20.20. Currently the metal is re-testing the Resistance level 20.20n, therefore we should wait for closing above to continue its upward trend […]
Overview: Since our last analysis, gold has been trading sideways around the price level of 1,247.00. We expect more bearish continuation. 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. We are […]
As mentioned yesterday, there is increased probability that prices will move towards 1260$ again and maybe higher towards 1290$. The upward move from 1226 is impulsive and the decline from 1258 to 1233 is corrective. We have a move of 5 waves up and 3 waves down. Thus we should at least expect another 5 […]
Markets stable as US gets shopping Morning Report: 08.30 London • So far markets are playing out the Thanksgiving pattern as expected as they rise slightly following yesterday’s Thanksgiving celebrations. Today is also Black Friday, the day that markets the beginning of US Christmas shopping and early signs are that shoppers are not disappointing. Markets are […]
Daily chart Crude oil fell again during Wednesday’s session and scored a new low of 0.9177. Today and tomorrow the U.S. markets will be almost flat due to Thanksgiving celebrations and therefore there will be other factors to move the market. Crude oil may continue to fall slowly taking the yellow line next target of […]
Overview: Since our last analysis, gold has been trading sideways, around the price level of 1,244.00. We expect more bearish continuation. In the daily chart, we can observe a supply bar on volume below the average and rejection of the previous swing low at 1,252.00, which means that gold may continue with bearish continuation. We […]
Gold prices have risen in 5 waves from the 1,226 lows to 1,258. The decline is in 3 waves. The bigger move from 1,360, as we mentioned in previous analysis, is a complete 5 wave pattern. So now it is time for a bigger upward corrective move. So the gold prices are expected to move […]
Technical Outlook and Chart Setups: Gold is trading close to the fibonacci 0.786 region of the entire rally from 1180 to 1440 levels. It is recommended to remain flat for now and watch for a meaningful bullish signal on a daily chart before committing on the long side. Immediate support is the 1210.00 level, followed […]
Dollar pairs rally on Thanksgiving rush Morning Report: 08.30 London • US stock markets are closed for Thanksgiving today, with a half day opening tomorrow. The days before and after Thanksgiving tend to have a positive edge and this has played itself out so far with US stocks hitting new highs last night and Asian stocks […]
Overview As shown in today’s H4 chart, the metal failed again to break the Support level 19.70 and is still trading above the Support level and inside its bearish channel. Currently, silver is bouncing from the Support level and preparing for the bullish move. So, we still suggest waiting for closing above the Resistance […]
Daily chart Crude oil prices experienced a significant drop this morning extending earlier losses after a surprise increase in inventories of the U.S. oil. Confirmation of this data is expected by the end of the day, thus the news came as surprise for the bulls. In fact, in the graph we can see how this […]
Overview: Since our last analysis, gold has been trading sideways, around the price of 1,249.00. We expect more bearish continuation. In the daily chart, we can observe a supply bar on volume below the average and testing of the previous swing low at 1,252.00, which means that gold may continue with bearish continuation. We are […]
Gold weakness is evident as even after 5 complete waves down, the prices only managed to stage a small upward bounce toward $1,257. Prices failed to break above the short term resistance trendline. Short-term resistance is found at $1,258 and short-term support – at $1,230. Pivot point for today is $1,248. Trading above that level will favor another test […]
Yen continues weakness Morning Report: 08.30 London • This morning, the yen has continued to weaken with the main yen pairs up around 0.35% this morning. The EUR/JPY is leading the charge, up 0.44% and the USD/JPY up 0.36%. • Elsewhere, the Pacific currencies of the Australian and New Zealand dollars are down 0.20%, continuing their […]
Overview The H4 chart demonstrates today that silver is still trading above the Support level 19.70 and below the resistance level of 20.20 after its rebound from the Resistance level yesterday, so we should wait. Given the metal manages to close 4H below this Support level, there will be a good opportunity to sell […]
Daily chart During Monday’s session after having opened the day with a gap Crude Oil attempted to record a new low below 92.43. However, it failed, as we can see in this area there is an accumulation of dealers which will likely cause the prices to continue moving laterally. Moreover, the line 2/8 (red line) […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,247.00. We expect more bearish continuation. In the daily chart, we can observe demand bar on average and testing the previous swing low at 1.252.00, which means that Gold may continue with bearish continuation. We are still likely to see it […]
Gold prices bounced upwards yesterday as we expected. We warned yesterday that we could soon see an upward price bounce as the downward move seems completed. In the following daily chart you can see our elliott wave count for the decline from 1,360 which is a previous important high. The larger trend remains downward, but […]
