Overview: Since our last analysis, gold has been trading sideways at the level of $1,204.00. It seems like sellers had no power to break through our support level at $1,196.00. According to a daily time frame, I found a weak supply in a high volume, which is the potential sign of strength. I found that […]
Gold is trading above $1,200 supported by the 38% Fibonacci retracement. Can the entire downward move have ended? What must happen to gold to make it rise towards $1,300? My preferred scenario is that gold price has ended a wave 4 at the 38% retracement and has reversed as we expected yesterday. Now it is […]
The big story last week was the sell off in global equities and the shrinking chance of a Fed rate hike in March. In fact investors are no longer pricing in another round of tightening in 2016 according to Fed fund futures. Today features the FOMC minutes from the 26/-27 January Fed rate Decision. The […]
Oil Hammered by New Saudi Deal Morning Report: 06.30 London • This morning, markets are still reacting to the proposed Saudi-Russia oil production deal which could see output paused at January levels. This is stilling pending other groups joining this agreement, but it was enough to spook markets and provide more volatility across markets. […]
Technical outlook and chart setups: Gold is trading at $1,206.50 now looking for an opportunity to push higher towards $1,233.00/35.00. The metal could face stiff resistance around $1,235.00 and produce a bearish reversal. The yellow metal hit interim lows just around $1,090.00 yesterday as seen on the hourly chart. The metal seeks to complete its […]
Technical outlook and chart setups: Silver is trading at the level of $15.30 at this moment after hitting intraday lows near $15.14. The metal is likely to be poised for a rally towards $15.60/70 before reversing lower. Please note that the short-term hourly chart depicted above shows our immediate outlook. The chart reveals that immediate […]
Overview The gold price breached the $1,212.34 level and settled below it. The price is under negative correctional pressure targeting a test of 1,180.86 levels, which represents 38.2% Fibonacci for the rise that is from 1,047.61 to 1,263.23. Therefore, these factors encourage us to prefer the overall bullish trend in the upcoming period, and its […]
Overview The silver price continued its negative trading in order to break 15.30 levels and settle below it. Thus it will open the way for the continuation of the bearish bias in the upcoming period and target retesting of the 14.67 level that turned into a major resistance after a breach. Therefore, the bearish trend […]
Gold: Gold, which was bearish throughout last year (bearish for the past 3 years), has already started a long-term bullish journey. The price has been going upwards since early January 2016, moving northwards as experiencing consolidation and transient pullbacks along the way. In this kind of a strong uptrend, supply levels are porous, for they […]
Overview: Since our last analysis, gold has been trading downwards. As I expected, the price tested the level of $1,190.73. The metal reached and rejected our strong support level at $1,196.00. A strong upward bar in an ultra-high volume (buying climax) is seen in the daily time frame in the background. Professional sellers used this […]
Markets Tough It Out Morning Report: 06.30 London • Markets are presenting a mixed bag this morning, but generally there is a sense of stability after weeks of volatility. The Dollar index is posting a small rise, with the USD/JPY following suit. […]
Many markets are heading for their biggest two gaining sessions since 2010 as yesterday’s European and American positive market sentiment has spilled over to Asia. Chinese stocks are up 3% after data showed credit growth was very strong in January. This sentiment helps boost further the recovery in Oil prices as BRT is just below […]
Gold plunged sharply as appetite for riskier assets increased alongside Japanese shares that climbed 7%. Gold for April closed at $1,214.40 an ounce, down 2%. Last week, the metal ended at $1,239.40 an ounce, down 0.7%. The precious metal was heavily bought last week, specifically on Thursday as stock markets plummeted and speculations escalated the […]
After Friday closed with gains in Wall Street, Asian Stocks also delivered. Japanese Nikkei is trading 7% higher on the day after a week of steep losses. USDJPY which in directly correlated to stock sentiment is also following suit by having gained more than 0.8%. The drop in China’s Shanghai Composite index was largely ignored […]
Overview Yesterday, the gold price bounced clearly to the downside after approaching from our main awaited target at 1267.20 to retest 1219.68 levels, which represent the key support base, after breaching it previously. We expect a higher rise. In general, we still suggest the bullish trend on the intraday and short-term basis. Breaching 1,267.20 levels […]
Overview The silver price succeeded to get a daily close above 15.70 levels, receiving positive motive that supports the continuation of the expected bullish trend on the intraday and short-term basis, which next target are located at the previously recorded top of 16.35. Thus, we will keep our expectations for a higher rise for the […]
Overview: Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,263.12 in an ultra-high volume. The metal reached our second short-term target at $1,232.00. The next upward target is set around $1,305.00. A strong upward bar in an ultra-high volume is seen in the daily time […]
Gold price has reached $1,265 which, I believe, is a short-term top. There are signs of a trend reversal and I prefer to be neutral or short on gold at the current levels. Gold is expected to make a pullback. Gold is trading above the kijun- and tenkan-sen indicators. The price is also above the […]
Gold in Demand as Sell-Off Continues Morning Report: 06.30 London • Last night saw another sell-off on US stock markets, bringing the total losses for 2016 to over 10% for equities. This has developed as the US FOMC moved to raise interest rates for the first time, but subsequently holding back on apparent fears about […]
Overview: Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,241.85 in a high volume. The metal reached our second short-term target at $1,232.00. Next upward target is set around $1,305.00. A strong upward bar in a high volume is seen in the daily time frame. […]
Gold price continues to rally towards highs as it breaks above important medium- and long-term resistance levels. This upward move has the characteristic of a bigger trend reversal as the form of the rise is impulsive. The price continues to trade above the tenkan- and kijun-sen indicators. Support is found at $1,197 and next at […]
The Golden Week refers to the 7-day national holiday celebrated in mainland China and some of its territories. This was officially implemented by the Chinese government in 2000 as a way to boost local tourism and allow people to visit their family in other parts of the country. It starts off during the National Day […]
Overview Gold price rallied to the upside sharply attacking 1219.70 level. The metal is trying to settle above it, raising expectations for more upside moves on the intraday and short term basis. The price needs a daily close above the mentioned level to confirm the extension of the bullish wave to 1267.20 mainly. Holding above […]
Overview Silver price managed to bounce higher after approaching 15.00 level yesterday, moving now above 15.30 again. Such a dynamic is raising expectations for a longer bullish bias in the short term. It opens the way towards targeting 15.70 level as the next main station. Therefore, we confirm our scenario of the bullish trend on […]
Goldman Sachs Group Inc. has reached a $27.5 million settlement of a class-action lawsuit accusing it of deceiving investors in sub prime mortgage offerings some U.S. senators faulted after investigating 2008 financial crisis causes. On Thursday, the preliminary settlement was filed in Manhattan federal court, and requires a judge’s approval. It resolves claims by investors […]
Yellen’s Warning Morning Report: 06.30 London • This morning, markets are stable after another volatile sessions in the US. The turbulence was in part sparked by warnings issued by Fed chair Janet Yellen regarding the state of the global economy. The Yen has continued to slide lower, gathering momentum as traders seek out safe harbours. […]
Today’s hot topic is all about the Gold rush! Gold surged $30 on Friday, that’s a massive 2.6% rise. Bullion was the best performing metal last month, appreciating 9%. Are we seeing the comeback of Gold? Let’s find out what’s going on. Last Friday’s NFP release saw new job creation well short of the expected […]
After a day to forget for the European and US stocks which saw major indices in Europe lose more than 3% and US more than 1.8%, the Asian markets followed in the same path. Japans Nikkei is down 5.41% at time of writing, as the anxiety over slowing growth, falling oil prices (again below $30) […]
EUR/USD Intraday: key resistance at 1.1180. Pivot: 1.1180 Most likely scenario: short positions below 1.1180 with targets @ 1.1070 & 1.1030 in extension. Alternative scenario: above 1.1180 look for further upside with 1.1240 & 1.1310 as targets. Comment: the RSI is bearish and calls for further downside. Gold spot Intraday: the upside […]
Dollar Steady Ahead of NFP Morning Report: 06.30 London • After a second day of pressure, the US dollar is at least stable this morning as we head towards today’s Non-Farm Payrolls report. Yesterday brought worse than expected unemployment claims and factory orders. • The […]
