Technical outlook and chart setups: Gold continues to trade sideways within $1,080.00 and $1,095.00 levels respectively as depicted here. The metal is testing its 50-day moving average as well. A break higher could trigger the awaited relief rally towards the $1,130.00/32.00 levels. It is recommended to remain long for now with risk at the $1,070.00 […]
Overview According to the attached H4 chart, the silver price continues to move below the bearish channel’s support as the EMA50 keeps forming negative pressure on the intraday and short-term trading, which keeps the chances to continue the bearish bias valid in the upcoming sessions reminding you that we need to break the 14.40 level […]
Overview: Since our last analysis, gold has been trading sideways around the price of $1,085.00. It is another low-volatility day for gold. According to the daily time frame, we can observe a weak small real body. I found a strong trading range between the prices of $1,077.00 (support) and $1,108.00. Selling gold around our support […]
The metal has closed below 1085.00 that we have been waiting for 12 days. Traders are waiting for Friday’s jobs data. Ahead of US jobs data, the US dollar back on limelight. Traders do expect wild moves during a day and tomorrow. Atlanta Fed President Dennis P. Lockhart said that the FOMC was nearly ready […]
Pound Rallies Ahead of MPC Meeting Morning Report: 08.45 London • This morning, the Dollar index is still banging on the door of the highs, while stock markets remain mildly positive. • This is being helped by ongoing weakness in oil prices as they dip below $45 once again. • The Australian Dollar remains under pressure after a […]
Gold price remains inside a triangle pattern. TThe tend is neutral. Best strategy is to wait for a breakout of the triangle before choosing a side. Other strategy is to buy near support and sell near resistance. Blue line – trend line resistance Green lines – triangle pattern Gold price remains below the Ichimoku cloud. […]
Overview: Since our last analysis, gold has been trading sideways around the price of $1,087.00. According to the daily time frame, we can observe a weak small real body. I found a strong trading range between the price of $1,077.00 (support) and $1,108.00. Selling gold around our support looks very risky and my advice is […]
The H4 chart demonstrates that, Silver price fluctuates within a tight range, settled below 14.70.Therefore, we keep on preferring the bearish trend in upcoming sessions. It needs to break the level of 14.40 to head towards the next target at 12.80. The EMA50 and stochastic continue to provide negative signals, which support the downside track […]
Dollar Rallies on Rate Hike Speculation Morning Report: 06.30 London • This morning, the US Dollar is banging on the door of the April highs after overnight comments a Federal Reserve member comment supporting a September rate hike. • The S&P 500 also has a positive bias this morning despite the prospect of higher rates. • Elsewhere, the […]
Gold price continues to trade inside the short-term triangle pattern. The price is kept inside a trading range between $1,105 and $1,077. Currently, a break above resistance and a push towards $1,130 are likely to be the most probable outcome. My longer-term view remains bearish. Blue line – long-term trend line resistance Green lines – […]
The metal managed to hold the given support zone, but on the back of strengthening USD, gold has lost momentum. Ahead of the US jobs data, traders focused on the US dollar. Today, they eye the ADP no-farm employment change, trade balance, and ISM non-manufacturing PMI. Traders do expect wild moves during a day. Atlanta […]
Technical outlook and chart setups: Gold continues its sideways movement between the levels of $1,080.00 and $1,095.00. A relief rally can be expected tpo take place any time until prices stay above $1,070.00. Please note that the metal is facing resistance going through its 50-day moving average, but a push higher would confirm that an […]
Technical outlook and chart setups: Yesterday, silver tested the level of $14.40 again before bouncing back off towards its 50-day moving average as seen here. The metal might be forming a possible double bottom, which would be confirmed after prices break above $15.00. It is recommended to remain long with risk around the level of […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,094.71. According to the daily time frame, we can observe weak supply and small real body. We can observe a volume spike (buying climax) followed by supply (sign of weakness) in the background. Fibonacci retracement 61.8% at the level […]
The gold price is trading in a sideways pattern. The short-term trend is neutral as the gold price has formed a sideways triangle pattern confirming the recent consolidation and trading range it is in. Breaking above $1,105 can give a push towards $1,115-$1,130; and a break below $1,077 will bring in more sellers towards $1,050-40. […]
Aussie Rallies Despite Oil Slump to $45 Morning Report: 06.30 London • This morning, the Australian Dollar is rallying after the RBA opted to keep rates on hold at 2% in the face of outside speculation of a rate cut. In addition, retail sales and trade balance came in above expectations to send the Aussie higher […]
The brand new month and week had started with buying, but the day ended with losses. At yesterday’s session, the metal re-tested the level of 1085.00 once again. It managed to close above 1085.00 for the second consecutive week. A trading pattern has been framed in a tight range of 35$ between 1077.00-1112.00 on an […]
Technical outlook and chart setups: Silver is trading at a low of $14.48 at the moment, testing the recent bottom formed around $14.40/50 before perfoming reversal. Please note that this rally could be just treated as a counter trend rally that could possibly fade away around $15.30, which is a fibonacci resistance as shown here. […]
Technical outlook and chart setups: Gold is testing recent lows around the levels of $1,080.00 again before rallying towards the levels of $1,130.00/32.00. Please note that this could be a corrective relief rally for the yellow metal. It is likely to face resistance around $1,130.00/32.00 (trendline and fibonacci). It is hence recommended to remain long […]
Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,089.19. According to the daily time frame, we can observe weak demand and small real body, which is a sign of weakness. We can observe a volume spike (buying climax) followed by supply (sign of weakness). I had placed […]
China Manufacturing Lowest Since 2013 Morning Report: 07.30 London • Chinese data is difficult to navigate at the best of times, but there does appear to be a worrying downward trends for the Asian powerhouse as the latest manufacturing figures came in below expectations this morning. The move has put stock markets on the back foot, […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of $1,103.25. According to the daily time frame, we can observe weak demand and small real body. According to the H1 time frame, a fake breakout of our support level at $1,086.00 is taking place in the background. We can […]
Euro Stumbles On IMF Stance Morning Report: 08.45 London • This morning, the US Dollar is rising back to the highs as the US economy shows signs of a sustained recovery. • The S&P 500 is rising at the same time, rapidly bouncing […]
Gold price remains in a bearish trend below the Ichimoku cloud and below the downward sloping trendline. Short-term resistance is at $1,104, while short-term support is at $1,077. There are increased chances of a bigger bounce towards $1,130 before the resumption of the downtrend towards $1,000 or $980. Blue line – trendline resistance Green line […]
The strikes in South Africa depressed the price again. The South African Chamber’s offer was rejected by the Trade union at yesterday’s session. Gold producers have tabled their final three-year offers for wage and benefit increases to representative unions, the Association of Mining and Construction Union (AMCU), the National Union of Mineworkers (NUM), Solidarity, and […]
Technical outlook and chart setups: Gold is trading around $1,084.00/85.00 now trying to move higher towards $1,130.00/32.00 before resuming its down trend. The metal remains bearish and it is expected to move lower towards at least $1,030.00 if not lower, but a relief rally can be expected before the next bear leg. It is hence […]
Technical outlook and chart setups: Silver is trading around $14.65/67 at the moment, looking for an opportunity to move higher towards $15.20/30 if not higher. Please note that the metal is trading in the buy zone of its immediate trend-line resistance and would make attempts to get through the outer trendline around the level of […]
Overview: Since our last analysis, gold has been trading sideways around the level of $1,093.00. According to the daily time frame, we can observe weak supply and small real body. According to the H1 time frame, a fake breakout of our support level at $1,086.00 is taking place in the background. The price got back […]
The gold price got rejected yesterday at the Inverted Head and Shoulders neckline. The price remains in a bearish trend and once we break support at $1,077, we should move lower towards $1,040. Important resistance remains at the level of $1,105 that bulls need to break for the gold price to move higher towards $1,130. […]
Fed Stays Course – Dollar Rallies Morning Report: 07.00 London • This morning, the US dollar is still sitting strong after the FOMC opted to keep rates on hold, while hinting that it is impressed by the ‘solid’ job gains. • Stock markets […]
