Overview: Since our last analysis, Gold has been trading sideways, the price tested the level of 1,320.77 on high volume, and it started small corrective phase as like we expected. We are still likely to see it testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. The current situation […]
Gold moved upwards nearly 40 pips within an hour on early trading today. Prices broke above the 1,288 yesterday’s high and reached 1,320 earlier today. The price pattern looks impulsive and the trend is changing to bullish at least in the short term. 1,250 is an important support now and 1,270 is an intermediate support. […]
Dollar slumps as US extends and pretends Morning Report: 08.45 London • This morning, the US dollar is selling off heavily after last night’s US debt deal which merely say the deadline extended and borrowing carried over until February. Stock markets shot higher last night, but there is a general tone of risk aversion this […]
Technical outlook and chart setups: The metal seems to have resumed the probable counter trend rally now. Resistance levels are lined up from 1,330.00, followed by 1,350.00, 1,375.00, 1,400.00 and 1,440, while support levels are 1,210 and 1,180, respectively. If the 1,330.00 level is expected now, then we will decide further movements. For now, it […]
Technical outlook and chart setups: The metal broke 1,270.00 and created fresh lows just around the 1250.00 levels. It is recommended to book profits on short positions taken earlier and await for a pullback to go short again. The short-term rally could possibly extend till 1,350.00, before reversing lower again. It is now encouraged to […]
Overview: Since our last analysis, Gold has been trading sideways movements, around the price 1,281.00 on high volume, we are still likely to see it testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. I saw that demand came on the market on volume above the average, according to […]
GOLD reached 1,255 yesterday, but reversed upwards to turn positive and reached the 1,290 levels. This pull back although may have put the bearish scenario in danger, it most probably was another back test of the broken neckline. The previous support is now resistance and prices are testing that levels once again. Now trading is […]
Kiwi setting the pace as US budget talks stall Morning Report: 08.45 London • This morning, markets are generally subdued as US budget talks continue to stall. The dollar index has been volatile, but still within a range that one might expect on a normal trading week. • By contrast the New Zealand dollar […]
Daily chart As we had expected, Crude Oil went down on Tuesday from the level of 101.56 to the closing level of 100.94. Our perception is that it will hold in this area and continue its range movements later. And as we mentioned yesterday in our analysis, Crude Oil may continue its descent into the […]
Daily Graphics After reaching a maximum at 102.60 on Monday, the light crude oil (CL) retracted downwards today from the area near the bottom line of the upward channel trend (pink line). However, since there is another bottom line around 100.60 and 100.50 (purple line), 100.00 further is the line 0/8 of Murrey […]
Aussie boost on rate outlook Morning Report: 08.45 London • This morning, the Australian dollar is on the rise after the release of the minutes from the last RBA meeting which indicated that a rate cut was not imminent. The AUD/USD is up 0.43%, with the NZD/USD riding on its coat tails, up 0.35%. […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested level of 1,255.00 on high volume, we are still likely to see it testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. I saw supply on volume above the average, according to the […]
Gold is moving downwards in an impulsive pattern. We mentioned yesterday that prices were back testing the broken support neckline and that soon selling pressures would come back. The upward move from 1,264 to 1,289 was corrective as explained yesterday as the overlapping pattern suggested so. Today new lows are made towards 1,258 as expected. […]
Overview As it is seen from today’s H4 chart, the metal is stabilizing above the Support level of 21.20 after its failure to break the Support level of 20.90 last week. Currently, we should wait for retesting of the Support level again and closing below it to get the bearish move opportunity. In that […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested level of 1,261.00 on high volume, we are still likely to see it testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. I saw supply on volume above the average, according to the […]
Gold broke the Head-and-Shoulders neckline on Friday and pushed below the support area of 1,270-80 towards 1,260. Prices are moving downwards in an impulsive pattern breaking support levels and are now back testing the support level at 1,270-80. The bigger picture remains bearish with 1,200-1,150 as the most probable target area for this downward move […]
Weekly chart Crude Oil WTI ended the week at 101.79 after reaching a minimum at 101.60 and close to about $2 from the opening of Monday and for some time it looked like it could close even below $100.00 during the Friday’s session. U.S. oil production totaled 7,810,000 barrels per day last week, about […]
Markets hit by US Budget block Morning Report: 08.45 London • Markets gapped lower this morning after another weekend of deadlock in US budget negotiations. Now the best realistic short term hope is for a six week extension for negotiations. • Stockmarket futures have gapped lower, as did the main yen pairs as risk […]
Daily chart Light crude oil is higher after reaching lower during the previous days. Today it is having a sharp drop and reaches 200 pips so far in the trading day. This happened after it was trying unsuccessfully to violate 103.13 area, where the line 2/8 (red line) is located. At this point, quoted under […]
Overview According to our yesterday’s expections, the price’s close below the Support level of 21.50 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Support level to trade below and open the way towards 21.70 as the first target, then the metal must test the Support […]
Gold remains in downtrend after breaking the sideways triangle. We remain short as prices have broken below 1,300 and the support level of 1,290. Next short-term support is found at 1,270. This level also coincides with the neckline of the Head-and-Shoulders pattern. The trend remains downward, as long as prices trade below 1,325. The recent […]
Overview: Since our last analysis, Gold has been trading downwards movements, as like we expected, the price tested level of 1,282.00 on high volume, we are still likely to see it testing the weekly FE level of 161.8% (Weekly third target) at the price of 1,151.00. I saw lack of demand on volume just below […]
As a short term trader, one of the best ways to make consistent profits and take them out of the market is buying oversold gap fill set ups. I’m looking for strong stocks that are having very rapid short term pullbacks in price. When I see the pullback, I immediately check the 5 or 10 […]
As we move into Quarter end, many investors and traders suffered a sizable drawdown in mid to late June. However, members of OptionsTradingSignals.com closed 3 trades during the selling carnage for huge overall gains. As a professional trader, a focus on implied volatility, probability of success, and a typically contrarian market view have served members […]
As primarily swing traders, we are always susceptible to second guessing our positions, being wrong with our entry timing, and holding stocks too long and turning small losses into larger ones. Im just as guilty of all the same as anyone else, and the reason is simply human nature. In order to be successful long […]
As primarily swing traders, we are always susceptible to second guessing our positions, being wrong with our entry timing, and holding stocks too long and turning small losses into larger ones. Im just as guilty of all the same as anyone else, and the reason is simply human nature. In order to be successful long […]
Read the Daily Market Report from Dave Evans, Professional Trader China Crunch Intensifies Morning Report: 08.45 London • This morning the troubles in China have continued, with the Shanghai Composite trading lower by 5.1%. There were also reports of outages in Chinese cash machines adding fuel to the disquiet within the Chinese […]
Read the Daily Market Report from Dave Evans, Professional Trader Hopes High For G8 Morning Report: 08.30 London • Markets have a positive bias this morning as the G8 summit rumbles on. The euro in particular is performing well after Greek politics were reduced to simmer […]
Overview As shown from the today’s H4 chart, the metal failed again to break the Support level 21.50 and is still trading between the Support level and below the Resistance level 22.00. Currently it is bouncing from the Support level and starting for the bullish move. So we still suggest waiting for closing above […]
Read the Daily Market Report from Dave Evans, Professional Trader Strong Yen rebounds on growth fears. Morning Report: 08.30 London • This morning, the Japanese Yen is riding high as world markets sell off. Financial markets have been rocked overnight after the World Bank cut its 2013 global economic forecasts to 2.2% […]
