Technical outlook and chart setups: The metal has resumed retracement after printing highs at 1,361.00 recently. The Fed’s outlook has proved to be the trigger for the fall late night. It is recommended to await prices to retrace up to 1,280/1,300, before planning to go long again. Immediate resistance is at the 1,370/80 levels, while […]
Overview As it was expected yesterday, Silver would take an upward move after its rebound from the Support level of 22.40. Currently, it is testing the Resistance level of 23.00 trying to break it through to continue its bullish move. More buy-signals would be provided in case of closing 4H above this Resistance level with […]
Daily chart Today oil again experienced a new downward retraction after yesterday it had closed below its pivot week. This as a result of reports of a sharp drop in oil exports from Libya reignited concerns about global supply. Crude exports from Libya have fallen to about 90,000 barrels a day, less than 10% […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,350.00 on ultra high volume (buying climax), and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign that Gold […]
Gold prices managed to make a new lower low at 1,338 just one dollar below the 1,339 low. The current trend is downward in the short term. Prices are expected to continue lower towards 1,320 at least as long as prices trade below 1,353. Short-term resistance is found at 1,353 and the pivot point is […]
Markets pause ahead of Fed Morning Report: 08.45 London • This morning, financial markets are treading carefully ahead of today’s FOMC meeting. Expectations are high for a positive move, but there is a danger that these expectations might go unfulfilled as the downside risk increases. • The Australian dollar is performing well this morning as is […]
Technical outlook and chart setups: The metal looks to have begun retracement lower towards the1,280-1,300 area, as seen in the 4H chart. It is recommended to initiate long positions around the fibonacci 0.618 support area at 1,280/90. Though it remains possible that prices may dip further to the 1,275.00 levels before rallying further up. The […]
Overview From the today’s H4 chart, yesterday the metal failed to break the Support level 22.50 to bounce again from it and trade between this Support level and below the Resistance level 22.80. Currently the metal must re-testing the Resistance level 22.80 again, therefore we should wait for closing above to continue its upward […]
Daily chart On Monday crude oil was bullish experienced for the third day, as traders pondered when it could restart the Fed’s monetary stimulus. Oil prices moved little amid data showing that retail sales fell in September, while wholesale prices fell slightly due to a sharp fall in the cost of food. The American […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,345.00 on ultra high volume (buying climax), and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign that Gold […]
Gold has broken down as expected by our last analysis ending diagonal pattern, and we now expect prices to make a retracement of the entire rise from 1,250. Prices are expected to move at least towards the 38% Fibonacci retracement which is at 1,318. Short-term support is found at 1,334 and then at 1,318 (our […]
China relieves concerns, but Aussie still dips Morning Report: 08.45 London • Overnight Chinese officials injected liquidity into their stressed system, relieving some pressure, but the Australian and New Zealand dollars are still falling this morning. This comes after comments from the RBA governor that implied that the Aussie was on the watch list for […]
Technical outlook and chart setups: Gold should be on the verge of a retracement now. Please refrain from long positions at the current levels. The metal needs to correct towards the 1,280-1,300 levels first, before rallying towards fresh highs. The longer-term structure might be unfolding as favoured to the bulls if 1,250.00 holds from here […]
Overview Based on the H4 chart above, silver is still stabilizing between the Support 22.50 and the Resistance level of 22.80 after its rebound from the Resistance level 22.80 last week. If silver continues its bearish move and manages to break the Support level 22.50, it will produce a strong indicator for the downward […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,351.52 on ultra high volume (buying climax), and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign that Gold […]
Aussie leads as risk appetite rises Morning Report: 08.45 London • This morning, the Australian and New Zealand dollars are on the rise as risk appetite returns. The currency market’s main risk (and China) proxy is showing the most intent, up 0.45%, with the NZD/ USD up 0.37%. There was some encouraging data from China […]
Gold continues to rise to new short-term highs, but we believe it is near the end of the upward move that started at 1,250. The rise seems completed, and we expect a reversal that could put the support levels at 1,300-1,280 to the test. Prices have risen in an impulsive way if we assume the […]
Daily chart The WTI crude oil price fell to the lowest level in almost four months on Wednesday as data signaled ample supplies in the United States, the world’s largest oil consumer. The U.S. Energy Information Administration said crude supplies increased by 5.2 million barrels, to 379.8 million barrels for the week ended Oct. 18, […]
Technical outlook and chart setups: The metal rallied above the resistance levels at 1,350.00 last week. This indicates that bulls remain in control now, and we should buy on any meaningful dips from here on. Levels of interest are 1,280-1,300 to enter long positions. As depicted here, the short-term support line is still intact and […]
Overview As it was expected yesterday, more bearish signals would be available after breaking the Support level 22.50 yesterday, then the metal continued its downward move after breaking the Support level and the upward trend line, which gave us a good opportunity to sell near of the Support level 22.00. Currently and as shown […]
Daily chart Crude Oil fell yesterday to its lowest level until reaching a low of 95.95 after the Energy Information Administration of the United States (EIA) reported an unexpected rise. It is speculated that crude oil prices could decline further as crude inventories in the U.S. rose by 5.2 million barrels last week and […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,351.00 on ultra high volume (buying climax), and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign that Gold […]
China still calling the shots Morning Report: 08.45 London • After a reprieve yesterday morning, pressure continues to build on the Australian and New Zealand dollars as China worries return. The Yuan reached a 20 year high against the US dollar after speculation from Chinese decision makers that there will be no direct intervention in […]
Gold reached our first short-term target at 1,350 yesterday, and the price did not get rejected at that resistance. Now trading near 1,343 which is our pivot point for today, we favor neutral positions as long as prices trade below that level. If prices trade above the pivot point, then there will be increased chances […]
Technical outlook and chart setups: The metal inched a little further towards the 1,350.00 levels yesterday. Implications from here are to wait for a retracement towards the 1,290/1,300 levels before going long again. Immediate resistance is at the 1,350.00 levels, followed by 1,375.00, 1,410.00 and higher up; while major support begins from 1,250.00 levels, followed […]
The precious metal market has been stuck in a strong down trend since 2012. But the recent chart, volume and technical analysis is starting to show some signs that a bottom may have already taken place. This report focused on the weekly and monthly charts which allow us to see the bigger picture of where […]
Daily chart US light sweet oil price was falling since the release of EIA’s Weekly Petroleum Status Report which hit a four-month low at $96.46 per barrel. The delayed report showed that US crude stockpiles had increased more than expected in a week ending h October 11 (by 4 million barrels instead of expected […]
Overview As shown from the today’s H4 chart, the metal is stabilizing between the Support level 22.50 and the Resistance level 22.80 after its failure to break the Support level and the upward trend line again yesterday. Currently we must wait for re-testing the Support level 22.50 again and closing below to get the […]
Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,335.00 on ultra high volume (buying climax), and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign that Gold […]
Gold short-term trend remains upward. Short-term support is found at 1,328 and at 1,310. Short term resistance is found at 1,343 and 1,375. As long as prices do not make a new high above 1,343, then blue wave count is most possible one. If prices make a new higher high, then red wave count is […]
