Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,085.25. In the daily time frame, we can observe a weak a supply bar and rejection from resistance cluster at the level of $1,094.00. Buying at this stage looks risky since the price rejected our strong resistance. The intraday […]
Gold price managed to close above weekly support last week, and there are signs that it can move towards $1,120. Gold is headed towards higher highs and higher lows confirming the bullish trend. Red lines – bullish channel Green rectangle – target area Gold price is trying to break above the short-term Ichimoku cloud resistance […]
Slowest Chinese Growth for 25 Years Morning Report: 06.30 London • This morning, Chinese growth levels have hit the headlines by coming in at their lowest levels since the 1990s. As ever though, the headlines do not tell half the story as the quarterly of 6.8% GDP was only 0.1% below analysts expectations, while industrial production […]
Technical outlook and chart setups: Gold is trading around the levels of $1,089.80/90 after reaching a lows of $1,085.00. The yellow metal might drop to the level of $1,080.50, which is Fibonacci 0.618 support as depicted in the chart before rallying further towards fresh highs. Please note that the upside extensions remain intact towards $1,125.00 […]
Technical outlook and chart setups: Silver is now preparing for an extended rally through the levels of $14.30/50. The metal is producing an engulfing bullish candlestick pattern on the H4 chart indicating potential reversal. Please note that the metal has been confined into a cone type consolidation pattern since several trading sessions looking for an […]
Overview The silver price hovers around the EMA50 that meets the 13.96 level now. The price is still inside the sideways range shown on the chart, waiting to breach one of its lines represented by the 13.65 support and 14.25 resistance in order to detect the next track clearly. We remind you that a break […]
Gold has entered 2016 with gains and reached its highest price since the early days of November last year following the Chinese stock market nosedive and the chain effects it had on both the European and U.S. stock markets. Following the gold’s price increase to all-time highs of $1,920 per ounce back in November 2011, […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,097.13. In the daily time frame, we can observe a a weak close of a supply bar (bar closed on the middle) . Buying at this stage looks risky since the price rejected our strong resistance. The intraday trend […]
Over the weekend, China’s Central Bank announced an implementation of some measures to stabilize the CNH markets while the West has announced a liftoff over Iran Sanctions which has drifted OIL prices to new 12 year lows. As a result, USDCAD opened the week over 1.4600 while AUD, NZD recovered 0.50% and […]
Iran Back In From The Cold Morning Report: 06.30 London • This morning, markets are relatively stable after a tumultuous weekend which saw volatility in Middle East markets and oil prices plunging further below $28. The big news has been the lifting of sanctions on Iran and the resulting impact this had on oil prices. Beyond […]
Overview The silver price bounced downward, as expected in our last report, to approach testing of the sideways range support at 13.65, fluctuating within this track. Its resistance line is located at 14.25, noticing that stochastic shows positive signals now that might push the price to test the mentioned resistance in upcoming sessions. In general, […]
Overview: Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,071.26. In the daily time frame, we can observe strong supply and a wide range of bars. Buying at this stage looks risky since the price rejected our strong resistance. The intraday trend is downward. According […]
Dollar Rallies Ahead of Big Data Day Morning Report: 06.30 London • This morning, markets are stable after steady gains on US Stock markets last night. The Dollar is making gains again as investors continue to demand safe harbour. • At the same time, the Yen is back in demand, with the […]
Technical outlook and chart setups: Silver dropped to Fibonacci 0.786 support of the entire rally between the levels of $13.70 and $14.20. It has bounced off since then, and is trading around $13.85 at the moment looking for an opportunity to extend its rally towards $14.30 and $14.50. Please note that the drop from $14.20 […]
Technical outlook and chart setups: Gold is trading around the level of $1,083.00 at the moment after reaching a low of $1,071.00 yesterday. The metal is poised to stage an extended rally towards $1,125.00 and $1,136.00 respectively in coming days. Please note that the metal has still bounced off the Fibonacci 0.618 support around $1,078.00 […]
Overview The silver price showed some positive attempts to move above the 13.96 level yesterday. Trading is still confined inside the sideways range that appears on the chart. It is waiting to breach one of its lines represented by the 13.65 support and 14.25 resistance to detect next targets clearly. We remind you that breaching […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,095.30. In the daily time frame, we can observe rejection of Fibonacci retracement 38.2% and successful rejection of SMA 100. Buying at this stage looks risky since the price rejected our strong resistance. The intraday trend is downward. According […]
MPC Unlikely to Follow the Fed’s Lead Morning Report: 06.30 London • This morning, Asian markets have been struggling after a volatile session in the US which saw the main stock markets close by over 2.00%. This comes as oil prices continue to plunge, with terrorist attacks in Istanbul and Jakarta. The dollar index continues to […]
Gold price reached important support of $1,080 and broke out above the downward sloping wedge. It is important for the bullish trend to hold yesterday’s lows and break above $1,095 in order to move towards $1,110-20. Blue lines – downward sloping wedge Gold price bounced off the Ichimoku cloud. The price stopped at kijun-sen 4-hour […]
The oil price took another hit yesterday and Brent briefly went below USD30 per barrel, the lowest since April 2004. The oil price appears to be driven by a combination of high supply and growing concerns over the global economy. While there was another bloodbath in Wall Street last night with major […]
Stocks Report: Bank of America Bank of America reversed from long-term support level 15.00 Likely to rise to 16.00 Bank of America recently reversed up from the major, multi-month […] The post HY Newsletter – Gold Broke Support Level appeared first on | HY Markets Official blog. Related Posts:Trading Signals for GOLD (XAU/USD) for […]
Technical outlook and chart setups: Gold has finally dropped to our measured fibonacci support levels around $1,079.00/80.00 today. The metal is now expected to form bottom around current levels, and stage an extended rally towards $1,125.00 and $1,136.00 levels respectively. Please note that $1,079.00 levels is also the fibonacci 0.618 support of the entire rally […]
Technical outlook and chart setups: Silver has dropped to $13.70 levels today before pulling back higher again. Please note that the metal is bouncing off the support and resistance lines within the cone consolidation precisely. The metal has formed a bullish pin bar candlestick pattern on the 4H chart view, as seen here, right at […]
Overview: Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of $1,079.65. In the daily time frame, we can observe rejection of Fibonacci retracement 38.2% and successful rejection of SMA 100. Buying at this stage looks risky since the price rejected our strong resistance. The intraday trend […]
China Offers Stability with Strong Trade Balance Morning Report: 06.30 London • This morning, markets are on a stable footing, following China’s release of better than expected trade balance data. The big winners in this have been the commodity currencies of the Australian and New Zealand Dollars. The AUD/JPY is particular is rallying as the Yen […]
Gold price continues its downward slide diminishing the chances of the bullish scenario of an impulsive wave up. So this upward bounce is most probably complete with an A-B-C correction and an important high at $1,111. Gold price is testing the wave 1 or A high support at $1,080. An overlap of this high will […]
Asian markets were at last treated to some new year cheer this morning as Chinese trade data beat expectations, offering a glimpse of light for the global economy. Chinese exports posted 2.3% year-on-year gains to December versus -4.1% expected, although the weakening Yuan will have no doubt contributed to the laggin […]
Overview Silver traded negatively yesterday approaching the sideways range support line, located at 13.65 and accompanied by positive signals that appear on stochastic. It might push the price to test the mentioned range’s resistance in the upcoming sessions, which is located at 14.25. In general, the metal is expected to trade sideways until it manages […]
Oil Slides Below $32 Morning Report: 06.30 London • The main themes of 2016 continue to play out across world markets with oil prices sliding below $32.00 yesterday, the lowest levels since 2004. Oil prices have now dropped by 16% (using both benchmarks) in the first trading week of the year. Meanwhile, the Chinese Renminbi continues […]
Oil sunk to 12 year lows this morning as concerns over China’s slowing economy continues to affect demand. Currently trading at $30.65 at time of writing, leading analysts expect the black gold to crash through the $30 threshold and into $20 territory. Investors will be concerned that China’s continued slump has […]
