The economic calendar is light today and focus would be on speeches of US Treasury secretary Jack Lew and New York Fed president William Dudley. Looking ahead, two central banks will meet this week. BoC and BoE are both expected to keep policies unchanged and might provide little inspirations to the markets. Currencies: the hottest […]
Technical outlook and chart setups: Silver is seen to be trading at $15.40 levels for now, looking to resume moving lower either from here or from $15.50/60 levels. Also note that $15.60 levels is fibonacci 0.618 resistance of the drop from $16.13 through $14.80 levels respectively. Please also note that the metal is testing $15.45 […]
Technical outlook and chart setups: Gold is seen to be trading higher at $1,244.00/45.00 levels at the moment, looking to push lower this week. The metal might print a high at $1,254.00/55.00 levels before reversing lower again. Please note that the yellow metal is testing its fibonacci 50% resistance of the drop between $1,283.00 and […]
Since our previous analysis, gold has been moving sideywas around the price of $1,235.00 in a high volume. I found a trading range between the prices of $1,238.10 (resistance) and $1,229.40 (support). Watch for a potential breakout of the trading range in a high volume to confirm further movements. I also found a downward channel […]
Gold made an upward move yesterday towards the $1,240 critical resistance level but did not manage to break it. The weekly trend remains supportive but, in my overall view, long positions are preferred only after a deeper decline towards $1,170-$1,100. Blue lines – bearish channel Yellow area – resistance Blue area – support Gold has […]
Technical outlook and chart setups: Silver is seen to be trading around $15.17 levels for now, still looking to form a base at $14.50/60 levels before resuming the uptrend. Please note that $14.50 levels are also a convergence of fibonacci 0.618 and the back side of trend line support, and the metal is expected to […]
Technical outlook and chart setups: Gold continues drifting sideways for now with prices trading around $1,236.00 levels. Please note that the metal has broken out of its resistance trend line and is expected to receive short-term support around $1,130.00 levels. Another probability is that the metal is unfolding as a triangle and has completed three […]
Overview The gold price continues fluctuating near 1,227.40 levels close to the bearish correctional channel’s resistance, keeping the chances for resuming the bearish correctional trend valid. The price is likely to get enough negative momentum to be pushed downwards. Therefore, our bearish trend expectations will remain valid and active in the upcoming sessions. The next […]
Overview The silver price shows quite volatile moves near the minor bearish channel shown in the image. As long as the price is below the 15.30 level, the bearish trend scenario will remain valid and active in the upcoming period; and the price is likely to break the 15.00 level to open the way towards […]
Since our previous analysis, gold has been moving upwards. As i expected, the price tested the level of $1,239.39 in a high volume. I found strong upward pressure today and my advice is to watch for buying opportunities. I found a successful test bar in a low volume at the price of $1,234.20, which is […]
Gold continues to move sideways but is still inside the bearish channel. The trend remains bearish as long as the price is below $1,240 with increased chances of a push lower towards $1,190. If, however, at this stage we do not move towards $1,190 and break above $1,240, there are a lot of chances of […]
Cautious Fed Sinks Dollar Morning Report: 06.30 London • This morning, the Dollar remains under pressure after the minutes from the last FOMC meeting revealed a cautious Fed that may delay a rate hike until after June. The release sent the Dollar reeling against most other currencies, with oil prices enjoying an unexpected boost as […]
The market does not have any significant data releases today with the exception of US jobless claims this afternoon. Most likely trading will be based on speculation following last night’s FOMC minutes which failed to ignite any significant market reaction. Usually the minutes are highly anticipated as it shows a deeper insight in to the […]
Overview Gold price shows some bearish bias after hitting the bearish channel resistance that appears in the image, to trade below 1.227.40 level now. This supports the continuation of our bearish trend. We are waiting for visiting 1193.00 level mainly. Therefore, the bearish bias will remain the dominant in the upcoming sessions unless breaching 1234.40 […]
Overview Since morning, the silver price has been trading sideways below 15.30 levels, keeping our bearish overview valid for the rest of the day. Our scenario depends on the stable trading below the mentioned level; its main targets are located at 14.67 then 14.27. Therefore, these factors confirm our bearish overview for the upcoming period. […]
Since our previous analysis, Gold has been moving downwards. The price tested the level of $1,223.87. Since the accumulation phase in the background took the place, I am still expecting the higher price on the gold. I found strong support around the price of $1,224.00. I found the previous resistance level, which became support. Watch […]
Gold bulls tried to push the price higher yesterday but the price still remains inside the bearish channel and the most probable outcome remains a move towards $1,190 before a bigger bounce. Blue lines – bearish channel Blue area – support Yellow area – resistance Gold got rejected by the 4-hour Kumo (cloud) resistance and […]
Cautious Optimism Morning Report: 06.30 London • Markets remain cautiously optimistic after another drop in US markets overnight. Equities have recovered well off the February lows, but no-one is expecting a straight line recovery from here, especially with the ECB in ‘whatever it takes’ mode and Greece rumbling in the background. The US Dollar has […]
Since our previous analysis, Gold has been moving upwards. As I expected , the price reached our first take profit level at $1,232.80. An accumulation phase took place and we got the strong effect (upward movement) from professionals. According to the 30M time frame, I found a massive volume spike (selling climax) in the background […]
RBA Holds Rates For Now Morning Report: 06.30 London • This morning, the RBA kept rates on hold at 2.00% as expected, but a widening trade balance deficit opens up the door for cuts in the future. The Aussie is experiencing minor selling this morning, but the New Zealand Dollar is experiencing some follow-on selling […]
Gold price held above recent low yesterday at $1,207 but remains inside the bearish channel. A new higher high towards $1,300-$1,320 is not ruled out yet as a break above $1,250 will increase the chance of this happening. Blue lines – bearish channel Blue area – support Yellow area – resistance Gold price remains below […]
Technical outlook and chart setups: Silver is seen to be trading at $15.10 levels at this moment, looking to reverse lower towards $14.50 levels at least before turning bullish again. The metal is stalling at a past support turned resistance level at $15.10/15 levels as depicted here. Furthermore it is also facing fibonacci 0.382 resistance […]
Technical outlook and chart setups: Gold is trading at $1,225.00/26.00 levels at the moment, looking to drop lower towards $1,190.00 levels from here. Please note that the metal is at the Fibonacci 0.618 retracement of the drop from $1,240.00 through $1,208.00 levels respectively. Furthermore, the resistance trend line is also passing through the same levels […]
Stocks Markets: Overnight, Stock markets in the US and Asia closed in the red which suffered to due lower oil prices. In fact price for Brent is at lowest since 1 month. The elevated risk aversion has strengthened JPY which is at its highest in 17 months versus the USD. OIL and GOLD: The risk […]
I found strong signs of strength in the background and a potential professional accumulation phase. According to the 30M time frame, I found a massive volume spike (selling climax) in the background fallowed by a reversal up-thrust bar (demand overcame supply). Today we saw successful testing of supply in a low-average volume, which is a […]
This week, the falling price of Oil is back in the spot light. On Friday, West Texas Intermediary (WTI) crude fell by 4.21%, to $36.80 per barrel. And Brent crude also decreased by 2.4% to $38.65 per barrel. So why is the slippery commodity continuing to slide? Saudi Arabia’s deputy crown prince Mohammed bin Salman […]
Crude oil prices fell again below $40 per barrel following comments by Saudi Arabia’s officials that it would only limit production if other leading oil manufacturers would agree to do the same. Even though the statement by the deputy crown prince Mohammed bin Salman referred to the entire group of the world’s largest oil producers, […]
Since our last analysis, gold has been trading downwards. The price tested the level of $1,208.30 Supply trend line at the price of $1,245.00 was held successfully. According to the daily time frame, I found trading range between the price of $1,245.00 (resistance) and the price of $1,208.00 (support). Watch for a successful breakout of […]
Gold price remains inside the bearish channel and it is heading towards the 38% Fibonacci retracement of the rise from $1,045. So $1,190-$1,200 is our short-term target area. Gold has entered a corrective phase that is expected to end around $1,150-$1,100 and it will have the form of a three-wave decline. Blue lines – bearish […]
Another Aussie Rate Cut? Morning Report: 06.30 London • This morning, the Australian Dollar is on the back foot after a poor set of retail sales fueled speculation of another rate cut. • The NZD/USD remains volatile with a negative bias in sympathy. […]
