Gold price broke out and above the triangle pattern I mentioned yesterday and today we see a back test of this breakout. Important support for the medium-term trend is $1,200. So, as long as we are above it, bulls will have the upper hand. A target for the continuation of this uptrend is $1,300, but […]
Overview The silver price found a strong support at 15.00 levels; the strong decline that began yesterday has stopped. The price is about to trade again above 15.15 levels, which stop the negative effect of the head and shoulders pattern that appears in the image and makes us return to neutrality until confirming the next […]
Overview The gold price still trades steadily above 1,212.34 levels, keeping the chances available for continuing the upside track on the intraday and short-term bases, waiting for breaching the 1,227.50 level to reinforce the expectations for heading towards the bullish wave targets that begin at 1,263.23 and extend to 1,300.00. Therefore, our bullish trend expectations […]
Overview: Since our last analysis, gold has been trading sideways at the price of $1,215.00. Our support at the price of $1,196.00 is on the test. In the daily time frame, I found a supply bar in an average volume. At this stage buying looks risky. According to the H4 time frame, I found buying […]
Gold price continues to hold above $1,200. The price is moving mainly sideways. There is a triangle pattern being formed in a possible wave 4 of a lower degree. This implies that more upside should be expected in gold and $1,300 to be reached over the coming weeks. This scenario will be canceled if the […]
Pound Fragile After Hefty Losses Morning Report: 06.30 London • Yesterday’s headlines ran with the impact of senior Conservatives coming out in favour of leaving the European Union. The Pound might have sunk to seven year lows, but it did not dramatically under perform the euro, with the EUR/GBP only rising slightly. Either the prospect […]
Despite a rally in Wall Street, Asian indexes are surrendering gains this morning with USDJPY dropping as much as 110 pips below 112.00. GOLD jumped overnight, as high as $1223 from $1208 yesterday as stock markets in Asia dropped. AUDUSD posted a new monthly high at 0.7246, near its key level resistance at 0.7250. A […]
Technical outlook and chart setups: Silver is trading at the levels of $15.22/25 at the moment, after hitting intraday highs of $15.30. The metal seems to be poised to push prices lower towards $14.80 and $14.60. The metal is trading ahead of its big brother gold by hitting fresh swing lows yesterday at $14.92. Furthermore, […]
Technical outlook and chart setups: Gold is trading at $1,216.00/17.00 now after pulling back from $1,222.00. Bears are expected to remain in control until prices stay broadly below $1,240.00. The yellow metal has hit Fibonacci 0.618 retracement of a drop from $1,235.00 to $1,203.00 as depicted in the chart above. Furthermore, a bearish evening star […]
Stocks Report: Coca-Cola Coca-Cola approached pivotal resistance level 43.80 Likely to rise to 44.50 and 45.00 Coca-Cola has been rising in the last few trading sessions inside the minor impulse […] The post HY Newsletter – Sugar Reached Support Level appeared first on | HY Markets Official blog. Source: HY Markets News Related Posts:Technical Analysis […]
Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,202.45. Our support at the price of $1,196.00 is on the test again. In the daily time frame, I found a neutral bar with a very low spread. Supply is overcoming demand and buying gold at this stage look […]
Technical outlook and chart setups: Silver had reversed from $15.45/47 levels on Friday as expected and is seen to be trading lower at $15.18 levels at the moment. The metal has also broken past its counter trend line support as seen here, and could still test $15.30 levels (support turned resistance line), before turning lower. […]
Canada’s Centerra Gold operating Kumtor, Kyrgyzstan’s largest gold mine, has cut its proven and probable gold reserves by 495,000 contained ounces, the company said. Kumtor’s proven and probable reserves total an estimated 5.6 million ounces of contained gold as of December 31, 2015, it said in a statement, down from 6.1 million ounces a year […]
The ongoing fall of crude oil prices could initiate a series of credit defaults and even insolvencies within the U.S. crude oil produces, according to estimates of a number of analysts. Alarmingly low price levels are a threat to the producers as it is becoming increasingly difficult that their forecasted total of about $89 billion […]
Gold is pulling back after reaching our target area of $1,130-40 last week. A break below $1,200 will open the way for a deeper decline towards $1,150. However, if support holds and price breaks above $1,235, we should not be surprised to see Gold price rally towards $1,300. Black line – support Trend line Gold […]
Technical outlook and chart setups: Gold has dropped lower after hitting resistance at $1,235.00 levels on Friday. The yellow metal is seen to be trading at $1,216.00/17.00 levels for now, looking to break to lower towards $1,200.00 levels from here. The metal needs to break below its counter trend line support to accelerate drop towards […]
Overview The gold price managed to breach the 1,212.34 level and close the daily candlestick above it, thus reinforcing our expectations for the bullish trend continuation on the short-term basis and opening the way to the recently recorded top at 1,263.23 as the next main target. In general, we still suggest the bullish trend for […]
Overview The silver price has been trading negatively since morning to approach from testing the support level at 15.15, which represents the potential neckline of the head and shoulders pattern on the H4 chart. It means that breaking this level will push the price to target 14.67 followed by 14.27 levels. We keep neutrality in […]
Overview: Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,239.75.Sellers had no power to break through our support level at $1,196.00. In the daily time frame, I found a solid demand bar in an average volume. The demand remained high, which is a sign that […]
Gold price broke out and above the short-term triangle pattern yesterday, then it moved towards our first target around $1,230-40 and reversed. If the price breaks below $1,200, we should expect price to move towards $1,150-60. Black lines – broken triangle pattern Gold price is above the Tenkan- and Kijun-Sen indicators but inside the Kumo […]
Technical outlook and chart setups: Silver is trading at the levels of $15.38/39 at this moment after pulling back from $15.55/56 hit today. The metal was expected to complete its counter-trend rally through the levels of $15.60/70 since it is the Fibonacci 0.618 resistance level as depicted on the chart. Also note that the support […]
Technical outlook and chart setups: Gold is trading at $1,225.00/26.00 after having hit resistance at $1,240.00 in early hours of today’s trade. Please note that we had expected this counter-trend rally to terminate around $1,235.00 levels, and discussed the same earlier. Furthermore, please note that the metal has reversed from a convergence of Fibonacci 0.618 […]
Markets UK Borrowing Morning Report: 06.30 London • This morning, markets are stable after moderate selling on US markets last night. Chinese markets appear to have stabilised, while US markets reassured with better than expected unemployment claims. The US Dollar is posting small gains, gaining ground against the Aussie, but losing against the Japanese Yen. […]
Overview As we mentioned in our last reports, breaching the level of 1,212.34 will ease the price mission to head towards the recently recorded top at 1,263.23. Until now, we still suggest the bullish trend unless breaking the 1180.86 level and holding below it, noting that our positive targets begin at 1,263.23 and extend to […]
Overview According to the shown H4 chart, the silver price continues fluctuating between the critical levels of 15.15 (support) and 15.70 (resistance), waiting to breach one of them in order to detect next targets clearly. This support represents a potential neckline for a bearish technical pattern that is forming on the chart currently. A break […]
Overview: Since our last analysis, gold has been trading sideways at the level of $1,203.00. My yesterday’s forecast is still in play. It seems like sellers had no power to break through our support level at $1,196.00. In the daily time frame, I found a weak demand bar in an average volume. The demand remained […]
World’s largest producer Barrick Gold Corp reported a smaller quarterly loss as sale of its non-core assets helped offset a persistent fall in gold prices. Net loss attributable to Barrick was $2.62 billion, or $2.25 per share, in the quarter ended Dec. 31, compared with a loss of $2.85 billion, or $2.45 per share, last […]
Gold price did not move higher in an impulsive mode, but it is moving sideways in what looks to be a triangle pattern. This increases the chances of a deeper correction towards $1,150. We might see $1,230-40 first but there are many chances to see $1,150 before a bullish trend resumption. The four-hour chart above […]
Overview It is difficult for the gold price to surpass the 1,212.34 barrier. The bullish trend scenario will remain valid and active if the price settles above 1,180.86 levels, waiting to breach 1,212.34 levels in order to confirm opening of the way towards our positive targets at 1,263.23 and then 1,300.0. In general, we still […]
Overview The silver price shows bearish bias to approach from testing the critical support at 15.15, which represents one of the next trend keys besides the 15.70 resistance, where the price needs to surpass one of these levels to detect the next trend clearly. Note that breaching 15.70 levels will make the price exceed its […]
