Overview From the today’s H4 chart, yesterday the metal failed to break the Support level 20.50 to bounce again from it and trade between this Support level and the Resistance level 21.00. Currently the metal is approaching the Resistance level 21.00 again, 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 of 1,288.00; we are still waiting further bearish continuation. In the daily chart, we can observe demand bar on the volume above the average, which means that Gold may start small bullish corrective phase before any downwards movements. We are still likely […]
Daily chart Crude Oil fell to a low at 92.50 during Thursday’s session but did not find enough support at this level. The price retreated again to the upside to finally close above 93.75. The previous day’s losses had come amid government data showing U.S. increased crude supplies for the eighth straight week, but still […]
Gold has bounced upwards as expected from 1,260 and reached 1,290-1,300 resistance. Now prices are testing the red downward sloping trend line and, at first glance, the try are being rejected. Short-term resistance stands at 1,290 and for the upward bounce to continue, prices will certainly need to break above that level today. Staying below […]
Technical outlook and chart setups: The metal looks to have taken support at the fibonacci 0.786 retracement levels at 1,260/70 levels as seen here. It is recommended to hold long positions taken earlier and also look to add fresh positions at current levels. As seen here, the presumed counter trend line is converging at 1,290.00 […]
Markets rise on prospect of more stimulus Morning Report: 08.45 London • After Janet Yellen’s testimony last night, markets are inferring that the next Fed Chair nominee will extend monetary stimulus. Stock markets have continue to hit new highs, while the main risk on currency – the Australian dollar is attempting to reverse recent losses. […]
Daily chart Crude Oil failed to overcome the limit of 93.75 where the line 2/8 (red line) of Murrey lines were lying during yesterday’s session. Although at some point, the price was above that level, yet prevailed sales force to finally close below that level. For the next hour it is scheduled to publish weekly […]
Overview: Since our last analysis, Gold has been trading sideways, around the price of 1,281.00; the price tested the level of 1,261.22 on average volume according to the Daily chart. In the daily chart, we can observe demand bar on the average volume, which means that Gold may start small bullish corrective phase before any […]
Yesterday we mentioned that it was about time to see an upward move in Gold as prices had reached important support levels for both short and intermediate term. Yesterday we noted the importance of the blue short-term downward sloping trendline that if broken, it would produce a buy signal with the 1,300 first target. The […]
Overview As shown in the today’s H4 chart, the metal failed to break the Support area which consists of the Support level of 20.50 and the downward trend line. It is still trading above this Support area. Currently, it is bouncing from the Support level and starting the bullish move. So we still suggest waiting […]
Daily chart Looking at the daily chart and from a technical standpoint Crude Oil is in a safe area, that is reverse line representing 2/8 Murrey. But if we take into account the fundamental and related data Crude supply perspectives change. Thus we will take into account monthly reports of the Department of […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected; the price tested the level of 1,261.22 on high volume according to the (H4) chart. In the daily chart, we can observe supply bar on the average volume, which means that r Gold may continue downwards movements. We are still likely to […]
Gold climbs as dollar stalls Morning Report: 08.45 London • This morning, gold is pushing higher after days of consistent selling – largely helped by the US dollar index struggling to push through resistance. • Away from this move, markets a generally very quiet as traders wait to hear from Chinese officials on their market reforms. […]
Gold has continued lower towards 1,265 without making any try for an upward bounce. Trend remains downwards and the bears still have the upper hand. Prices have now reached the important neckline area. Prices have made a low in the upper boundaries of that support area. The daily chart above shows the important support area […]
Overview As it was expected yesterday, more bearish signals would be available in case of breaking the Support level 21.20 to give us another good opportunity to sell till reaching the Support level 20.50. Currently and as shown the metal already hits the Support level 21.20 to trade below it before the closing of […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected; the price tested the level of 1,276.12 on high volume according to the (H4) chart. In the daily chart, we can observe supply bar on the volume below the average, which means that there is an chance for Gold to start small […]
Yen retreats on low confidence Morning Report: 08.45 London • This morning, the Japanese yen is on the back foot after consumer confidence came in well below estimates. • The euro is continuing to outperform its peers, with the EUR/ JPY up 0.42%. • The Aussie and Kiwi are continuing their poor run, with the AUD/ USD […]
Gold is sliding downwards towards 1,280-70 and is reaching important support levels that could change the intermediate and long-term trend. The prices are moving downwards in an impulsive pattern and the decline has retraced more than the 76.4% of the 1,250-1,360 rise. This is not a bullish sign. However, confirmation of the bearish scenario will […]
Overview According to our last week expectations, the price’s close below the Resistance level of 22.00 will give new opportunities for sell signals. In the beginning of this week the metal has already managed to close below the Support level 21.50 and currently it is testing the Support level of 21.20 to open the way […]
Monthly chart After being bearish for two weeks Crude Oil is leaning on its weekly Pivot at 94.28 after leaving a minimum at 93.08 and after finishing with a slight rise last Friday. The U.S. Labor Department on Friday reported that the economy added 204,000 jobs in October despite the government shutdown. That was […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected; the price tested the level of 1,278.69 on high volume. In the daily chart, we can supply bar on the average volume, which is a sign that Gold started bearish continuation phase. We are still likely to see it testing the weekly […]
Gold prices are trading near 1,280 after continuing the lower lows and lower highs pattern. Resistance level at 1,325 was not broken and as we noted in our previous analysis, as long as the prices were trading below that level, then it would be more possible to see 1,290 and lower. Important levels for bears […]
Markets quiet as bank holidays hit Morning Report: 08.45 London • First we would like to express our support for anyone caught up in the Philippines disaster. • Markets are generally quiet this morning as traders take a much needed break between last week’s data deluge and today’s bank holidays in France, the US and Canada. • So […]
Daily chart Right now crude oil stays below 94.50 during the session after yesterday it tried to overcome the peak during the Wednesday’s session. This market has shown the $95 level is resistance, as one would expect as it is a large round psychologically significant number, and as a result the sellers stepped […]
Overview: Since our last analysis, Gold has been trading downwards, like we expected; the price tested the level of 1,296.37 on high volume. In the daily chart, we can supply bar on the average volume, which is a sign that Gold started bearish continuation phase. We are still likely to see it testing the weekly […]
Technical outlook and chart setups: The metal fell down to the expected region between 1,290/1,300 before bouncing back sharply. As recommended earlier the metal has been bought in full capacity and long positions should be held for an upside extension 1,400/30 levels at least. Intermediary support region is 1,250.00, followed by 1,210.00 and 1,180.00; while […]
With the ECB rate cut providing volatility in the markets, Gold was not unaffected by it. Gold prices reached the resistance level at 1,325 once the rate cut decision was announced, and then pulled back down below the recent low at 1,306 towards 1,295 which was the middle of our next target (1,300-1,290). The downward […]
The quiet between storms Morning Report: 08.45 London • After yesterday’s volatility, this morning traders are unwilling to stick their necks out ahead of the big Non Farm Payroll results later. • Yesterday’s trading action was enough to allow the City bit of a breather before the next big data point hits. Mario Draghi underlined that […]
Overview The H4 chart demonstrates today that silver still cannot break the support level of 21.50 and it is currently trading above it and below the resistance level of 22.00, so we should wait for the mid-day closing. If the metal manages to close 4H below it, there will be a good opportunity to […]
Daily chart Crude Oil rose during the Wednesday session, reaching above 95.00 to close finally in 94.84. Prices rose after the Energy Information Administration EIA U.S. said Wednesday that crude inventories rose 1.6 million barrels for the week ended November 1, less than the 2.5 million barrels analysts expected. Late Tuesday, the American Petroleum […]
