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Oil Pushes Through $45 Morning Report: 06.30 London • This morning, the US dollar is on the back foot after oil prices pushed through $45 yesterday, the highest level in 2016.                                           • The surge has […]

Gold is trying to break above the upper triangle boundary and it seems that it will manage to do it today. The price is setting up a bullish formation that could bring Gold towards $1,300 very soon. Bulls do not want to see the price break below $1,240. Black lines -triangle Gold is trading above […]

Overview The gold price traded with clear positivity yesterday settling near 1,250.00 and reinforcing the continuation of the bullish trend scenario on the intraday and short-term bases. The price is likely to head towards 1,282.92 then 1,300.00 levels that represent the next main targets for the current bullish wave. Stochastic current negativity might cause temporary […]

Overview The silver trades lower after it found a strong bullish channel’s resistance as shown in the image. Besides, stochastic negativity on the four-hour time frame might push the price to some temporary bearish bias before it attempts to resume the main bullish trend. A breach of the 17.25 level will provide strong positive momentum […]

Since our previous analysis, gold has been moving upwards. The price tested the $1,257.78 level in a high volume. According to the 30M time frame chart, I found a successful test of supply in a low volume, which is a sign that selling gold looks risky. Watch for intraday buying opportunities. Support level at the […]

We are excited to announce that we are expanding our selection of commodities by adding two precious metals to the mix: Platinum (XPT) and Palladium (XPD) These two metals, though perhaps not as present in our daily lives such as silver and gold, are in high demand across various industries, including but not limited to: electronics, […]

Yen Demand Returns Morning Report: 06.30 London • This morning, the Japanese yen is back in demand, driving the yen pairs lower, especially the AUD/JPY which is tailing off from the highs after the latest crude oil surge faltered.                                  […]

Gold bounced yesterday towards resistance of $1,260 and got rejected as the price hit the upper triangle boundary. This rejection is a bearish sign. The price remains trapped inside the triangle pattern and as long as the price is below $1,260 I prefer to be bearish or neutral. Black lines – triangle pattern Gold is […]

Technical outlook and chart setups: Silver reverses from intraday highs at $17.20 levels today. The metal is seen to be trading at $16.92 levels after printing lows at $16.82 levels. Please also note that the metal is producing an engulfing bearish candlestick pattern on the 4H chart view, indicating a potential reversal ahead. The metal […]

Technical outlook and chart setups: Gold is seen to be trading at $1,246.00/47.00 levels for now, after having hit $1,256.00 levels yesterday. The metal has reversed from the fibonacci 0.786 retracement level of the drop from $1,262.00 through $1,207.00 levels earlier. Please note that the metal should remain poised to print lower lows from here, […]

Goldman Sachs Group’s revenue on all fronts registered a steep decline during the first quarter, the company announced on Tuesday. Its net income plunged by 60 percent to $1.14 billion or $2.68 per share, a very slim figure compared to last year’s $2.84 billion income ($5.94 per share). Revenues also ebbed by 40 percent to […]

Overview Gold price rallied higher strongly to breach the 1,237.25 level and settle above it. This supports continuation of our bullish trend expectations in the upcoming period. Therefore, the bullish bias will remain preferred on the intraday and short-term basis unless the price breaks the 1,227.40 level and holds below it.The way is open towards […]

Overview Silver price succeeded in breaching the 16.35 level to confirm continuation of the expected bullish trend on the intraday and short-term basis. This opens the way towards 17.08 that represents the next main target for the current bullish wave. Therefore, the positive trading will remain dominant in the upcoming period. It points that holding […]

Since our previous analysis, gold has been moving upwards. The price tested the $1,246.09 level in a ultra high volume. On the daily time frame chart, I found that a head and shoulders pattern (topping formation) is forming. I have placed Fibonacci retracement and found 38.2% at the $1,238.00 level (successfully held). On the 15M […]

Rapid Oil Price Recovery Morning Report: 06.30 London • Oil prices staged a remarkable recovery yesterday, helped by a ‘risk rally’ that lifted the yen pairs higher.                                           • The AUD/JPY saw the largest gains as […]

Gold continues to trade inside the triangle pattern and mostly sideways with no clear direction. The price is trapped inside a neutral trading range above the $1,215 support and below the $1,260 resistance. Black lines – triangle pattern Gold is trying to re-enter the Ichimoku cloud on the 4-hour chart as shown above. The trend […]

Technical outlook and chart setups: Silver is seen to be trading at $16.20/25 levels for now, looking to drop lower towards $14.50/60 levels before turning bullish again. The metal is consolidating in a cone structure for now and is expected to break lower soon. The metal had taken out major resistance at $16.35 levels earlier […]

Technical outlook and chart setups: Gold prices are seen to be trading at $1,233.00/34.00 levels for now, looking to rally towards $1,247.00 levels to complete the countertrend rally. Please note that the metal is expected to reverse lower from $1,247.00/48.00 levels. The metal is expected to complete the down gartley towards $1,247.00 levels and then […]

Overview The gold price has tested the 1,227.40 level this morning, but has bounced bullishly to settle around 1,233.00 levels again, keeping the bullish trend scenario valid and active on the intraday and short-term bases. We need to breach the 1,237.50 level to reinforce expectations of targeting 1,282.92 followed by 1,300.00 areas initially. We remind […]

Overview The silver price has managed to touch our first main target at 16.35 and is showing some slight bearish bias from there. The price was affected by stochastic negativity that approaches from the oversold areas now to offer positive momentum that we are waiting for to help the price breach the mentioned level, extending […]

Since our previous analysis, gold has been moving upwards. The price tested the level of $1,241.43 in a low volume. According to the daily time frame, I found that the head and shoulders pattern (topping formation) is forming. I have placed Fibonacci retracement and found 38.2% at the price of $1,238.00 (successfully held). Watch for […]

Brent Crude futures took a major tumble on Monday morning losing 6% but recovered to $41.29 a barrel – still down 4.2% since the last settlement. Since mid-2014, oil prices have fallen 70% due to a massive oversupply in what has shaped up to be a vicious price war. Commodity currencies including the aussie and […]

Technical outlook and chart setups: Gold is trading at $1,235.00/36.00 levels at this moment, looking to hit $1,247.00/48.00 levels before turning lower again. The yellow metal looks to be in a counter trend rally before resuming its down trend. Please note that the metal earlier reversed from $1,283.00 levels, dropping lower into $1,207.00 levels (not […]

Gold continues to trade sideways inside a triangle formation. The trend is neutral as the price is trapped inside a trading range between $1,260 and $1,215. Black lines – triangle Gold is inside the 4-hour chart Kumo (cloud) as bulls try to support prices. Short-term support is at $1,223 and next at $1,215. Resistance is […]

Technical outlook and chart setups: Silver is trading at $16.10/15 levels for now, after hitting $16.37 levels earlier as expected. The metal has taken out resistance at $16.35 levels, completing a 5-wave rally from $13.70 levels, as depicted here on the 4H chart. Please note that the next high probable direction is expected on the […]

Yen In Demand as OPEC Fails to Agree Morning Report: 06.30 London • This morning, markets are reacting to OPEC’s failed to agree a cut in output. The news has pushed oil prices lower after days of above $43 price. Commodity currencies have been the big losers, with the USD/CAD gapping higher this morning.   […]

The Doha meetings failed to unite oil exporting countries as to freeze outputs, which resulted in oil prices tumbling overnight. With no scheduled news for today, we expect the Doha meetings to dominate oil and commodity moves today. Oil and GOLD: Crude oil tumbled by more than $2.8 to $39 per barrel, as Doha meetings […]

Overview The gold price is trading steadily above the 1,227.40 level. Stochastic is offering a positive overlapping signal in the four-hour time frame, which supports the chances of resuming the bullish trend in the upcoming sessions. The price needs to breach 1,232.00 followed by 1,238.45 levels to ease the mission of heading towards our main […]

Overview The silver price is trading sideways above the 16.00 level. The price starts moving with slight bullish bias in attempt to approach from the 16.35 level; the price is likely to breach this level to confirm the way to target the 17.08 level as the next main station. In general, we still suggest the […]

In Line Chinese Growth Morning Report: 06.30 London • This morning, Chinese GDP came in at 6.7%, in line with expectations, but still the lowest reading since 2009. It paints a general picture of a slowing but stable Chinese economy. Industrial production came in slightly above expectations at +6.8%. The Australian dollar has been the […]