Technical outlook and chart setups: Gold has taken stops out yet again hitting a fresh low of $1,063.50 before pulling back. The metal is up again trading above the level of $1,071.00 at the moment. The counter trend rally is due to happen, but we need to see a resistance breakout at $1,096.00 before committing […]
Technical outlook and chart setups: Silver dropped below the level of $14.10 overnight, but is managed to recover trading above $14.25 at the moment. The metal is forming a potential morning star candlestick pattern on the H4 chart that still indicates a potential counter trend rally can take place soon. The metal should break through […]
Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,077.22. According to the daily time frame, I found a pin bar and reaction from sellers. Our first major resistance (change in polarity – strong support became resistance) at the price of $1,099.00 held successfully. According to the H4 […]
Technical outlook and chart setups: Gold brake out the immediate trend line resistance and took out $1,096.00 initial resistance yesterday. The yellow metal retraced lower and tested the back side of the resistance turned support line around $1,078.00 as we can see here. A bullish reversal pattern confirms that the metal is set to extend […]
Technical outlook and chart setups: Silver broke out the line of immediate resistance earlier and has also back tested the level of $14.20 today. A potential engulfing bullish candlestick pattern is seen in the 4H chart. Yesterdays’ lows hold well. A rally can unfold pushing prices towards $14.60 and $14.90 levels respectively. Bulls should remain […]
Gold price got rejected at resistance yesterday and broke below $1,080 again. This is a sign that a bearish move in gold prices is not over yet and we have not seen an important long-term low yet. Blue lines – bullish channel broken Blue line – resistance Gold price is trading below the Ichimoku cloud […]
Markets Quick to Find Their Feet Morning Report: 06.15 London • Monday’s early risk-off reaction has been reversed across most world markets, with follow on buying through this morning. The Dollar index is back to test last week’s highs, while the USD/JPY saw a large buying spike. […]
Gold held a five-day slide on speculation the Federal Reserve is on course to increase interest rates next month. Bullion for immediate delivery closed at $1,083.63 an ounce, previously $1,082.76. The yellow surged as much as 1.3% as investors mulled the deadly terror attacks in Paris last week that killed at least 129 people, before […]
Overview: Since our last analysis, gold has been trading upwards. As I had expected, the price tested the level of $1,097.91. According to the daily time frame, I found a strong pin bar and reaction from buyers, which did not let sellers to break the key support at the level of $1,077.00. According to the […]
Gold price has finished its decline from $1,190 at a new low of $1,074. Is this a long-term low? For now, we can be pretty sure that at least a bounce should be expected. As I mentioned in the previous posts, gold is at the long-term support level, and bears should be very cautious. Blue […]
Markets Beat Retreat On Paris Attack Morning Report: 06.15 London • Following the horrific attacks in Paris on Friday night, markets generally gapped lower, but the selling pressure has been controllable with a recovery setting in as we move through the morning. The dollar index is in demand, but the Japanese yen has been the safe […]
Technical outlook and chart setups: Gold has broken above the initial interim resistance at $1,095.00, which was discussed at a potential trigger for at least a counter-trend rally. Also note that the immediate downtrend line has been broken and prices could rally higher towards $1,112.00 and $1,136.00 before reversing lower. Please note that this could […]
Technical outlook and chart setups: Silver opened the week in the green. We expect the price to rally through the level of $14.50, which is initial interim resistance. Once the price pasts $14.50, it is safe to assume that an interim low has been formed around $14.20 and that the metal could perform a counter-trend […]
Commodities Plunge (again) Morning Report: 06.15 London • This morning, commodities are under pressure once again as oil slips to multi-month lows, while gold slips to its fourth straight day of losses. • The Dollar index has been under some pressure this morning, with small counter […]
Overview Silver price showed calm negative trading yesterday to keep crawling to the previously recorded bottom at 13.96, while the EMA50 continues to push the price to the negative territory to support the continuation of a decline in upcoming sessions. Therefore, we will keep our bearish trend expectations unless breaching 14.85 and holding above it, […]
Technical outlook and chart setups: Gold continues to test the resistance-turned-support trend line around $1,084.00 now. If bulls want to remain in control, they would be poised to produce a reversal ahead of $1,077.00. Only a break below $1,077.00 would delay matters further and help in hitting new lower lows. It is not recommended to […]
Technical outlook and chart setups: Silver is trading around $14.40 now still holding the fibonacci 0.786 support level as depicted on the daily chart. Bulls are still expected to regain control until prices stay broadly above $14.00. If this count holds, silver may easily rally above the levels of $16.30/40 in coming weeks. It is […]
Overview: Since our last analysis, gold has been trading sideways around the level of $1,087.00. Our major support is at the price of $1,085.00. We can observe a massive volume spike (selling climax) in the background, which is a sign level of $1,085.00. According to the M30 time frame, I found a strong supply trend […]
Aussie Rallies On Employment Boost Morning Report: 06.15 London • This morning, markets are mixed, with the Dollar index nipping back for another day. • The Australian Dollar is out performing, following an impressive set of employment figures this morning. Employment change […]
The gold price remains in a bearish trend, but just above the 2015 lows at $1,077. The short-term sideways move continues forming a bearish flag. Red lines – trading range/ flag pattern The gold price remains below the Ichimoku cloud and inside the trading range. The resistance is at $1,107; and support, at $1,083. Breaking […]
Global gold demand reached its highest in over two years in the third quarter, as lower price in July bolstered purchasing of bars and coins, and jewellery. According to the World Gold Council, overall demand touched 1,121 tonnes in the previous quarter, up 8% year-on-year to its highest since the second quarter of 2013. But […]
Stocks Report: The Goldman Sachs Group Goldman Sachs approached resistance level 200.00 Likely to rise to 205.00 Goldman Sachs has been rising sharply in the last few weeks inside the […] The post HY Newsletter – Silver Approached Support Level appeared first on | HY Markets Official blog. Related Posts:Analysis for GBP/USD on April 16th. […]
Overview Silver price is gradually moving towards our main long-awaited target at 13.96, showing some slight bullish bias now. Stochastic has a positive impact on the price, while the EMA50 continues to push it into the negative territory.Silver price has not shown any strong movements since morning. It is still fluctuating in a tight range […]
Overview: Since our last analysis, gold has been trading sideways around the level of $1,088.00. As we had expected, the price tested the second major support at the level of $1,085.00. We can observe a massive volume spike (selling climax) in the background, which is a sign level of $1,085.00. Anyway, if the price breaks […]
Markets Shrug Off Poor Chinese Industrial Production Morning Report: 06.30 London • Markets remain relatively tight despite below par Chinese industrial production figures this morning. Retail sales did come in above expectations, but it does speak of the current market mood that such a miss can pass without serious reactions. The general theme for today is […]
Gold price remains in a bearish trend, and we can see lower price levels for sure if we break $1,077. However, we must keep in mind that gold price is also very close to the 50% retracement of an entire rise from 1999 to 2011. Red lines – trading range Green line – scenario 1 […]
Technical outlook and chart setups: Silver might be producing a potential inverted head and shoulder reversal as seen on a compressed view of the H4 chart here. The metal is trading around $14.50 at the moment, a potential right shoulder, in line with the left shoulder. The current price action also indicates that silver is […]
Technical outlook and chart setups: Gold produced a complex correction and is trading around the level of $1,092.00 below its Fibonacci support of 0.786 (of the rally between $1,077.00 and $1,192.00 respectively). One can expect at least a short term corrective rally if no extension above $1,190.00 is observed until prices stay above $1,077.00. On […]
Technical outlook and chart setups: The yellow metal remained just shy of its July 24, 2015 lows at the $1,077.00 levels and bounced off the the $1,085.00 levels. Gold is seen to be testing the backside of its resistance turned into support trend line, and is trading marginally higher today around the $1,093.00 levels at […]
Overview: Since our last analysis, gold has been trading sideways around the price of $1,093.00. As we had expected, the price tested the second major support at the level of $1,085.00. We can observe a massive volume spike (selling climax), which is a sign that selling gold at this stage looks risky. A trend is […]
