Overview: Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of $1,232.18 in a high volume. We can observe demand in a high volume but weak price action in the daily time frame. The short-term trend is bullish. The daily resistance at the level of $1,224.00 is […]
Gold price has broken to new higher highs today and is moving towards our target at $1,250-60 after breaking above the critical short-term resistance at $1,224. The longer-term view for Gold price remains bearish and this bearish scenario will be tested at $1,250-60. Orange lines – bullish channel Red line = critical medium-term support Blue […]
Technical outlook and chart setups: Silver has raised through $17.70 levels today before retracing lower. The metal might have formed an intermediary high for now and could be looking to drop further lower towards the level of $16.40 before resuming its rally. It is hence recommended to book profits on long positions taken earlier. Aggressive […]
Technical outlook and chart setups: Gold has inched higher towards the level of $1,227.00 after breaking out of sideways consolidation earlier. The metal could be looking to at least retrace lower for now, before resuming its rally. It is hence recommended to book profits on long positions taken earlier. Aggressive traders could look to initiate […]
Markets Hold at Highs Morning Report: 09.00 London • This morning, world markets are holding at the highs, with the S&P 500 within a day’s session of breaking to record new levels. The dollar index is continuing to stabilise without making a sustained recovery. […]
Markets Set For Record High Morning Report: 09.00 London • This morning, the S&P 500 is poised to break through to record highs as the US economy and interest rate expectations reach a comfortable alignment for stocks. The economy is slowing just enough to push interest rate hike expectations into the future, while the slowdown […]
Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,210.84 in a high volume. We can observe demand in a high volume but weak price action in the daily time frame. The short-term trend is bullish. The first major resistance at the level of $1,220.00 is on the […]
Gold price made a new short-term high above $1,224 but the upward move did not last. The price is at important weekly resistance levels and it will be hard for bulls to push it higher. Support at $1,212 is important for the short-term trend. I believe we are inside a bearish wedge and the next […]
May 14, 2015 – Commodities News Gold Gold rallied to a 5 week high as the Dollar continued to decline. Data showed that U.S Retail Sales declined during the month of April as consumers cut down on purchases. As stated previously, the price of the yellow metal is moved by expectations over the timing of […]
May 13, 2015 – Commodities News Crude Oil WTI Crude rallied yesterday and reached $61.6/barrel. Gains were first seen as the commodity reacted to the weaker Dollar; as oil is purchased in Dollars, it tends to benefit from the weaker currency. Later in the session, the API released an inventory report which showed that stockpiles […]
Further Signs Of China Cooling Morning Report: 09.00 London • This morning, another round of slower Chinese data has hurt the Australian and New Zealand dollars this morning. The AUD/JPY in particular has failed to break key support at the fourth time of asking. […]
May 12, 2015 – Commodities News Gold Yesterday, Gold traded sideways during early trade. Later in the session, the price dropped as fears of a Greece default subsided in the near term. Greece managed to make a loan repayment of 750 million euros to the IMF, removing fears that they could leave the Euro. Today, […]
May 12, 2015 – Stock Market News Exxon shares closed yesterday with a 2.48% decrease in price after the price of oil took a recent tumble in value. These losses follow positive outlooks on Exxon, when it was rated ‘outperforming’ by RBC Capital. Oil’s own outlook, despite showing signs of recovery, are still more mixed. […]
Overview: Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of $1,191.53 in a high volume. According to the daily time frame, we can observe demand in a volume below average. The short-term trend is neutral. Our Fibonacci retracement 61.8% at the level of $1,181.00 was held […]
Gold price continues to trade below $1,200 and there are more chances of a downward break than a push above $1,200. I remain medium-term and longer-term bearish. Important support that needs to be broken is at $1,130 and this will give me $1,000 or even $900 as a target. Blue line= trend line support I […]
Technical outlook and chart setups: Silver is trading around $16.40 now confined into an increasing support and constant resistance type consolidation pattern. The metal should be looking to break above at least $16.60/70 to rally higher. It is hence recommended to remain long with risk at $15.50 now. Immediate support is seen at $16.20 followed […]
Technical outlook and chart setups: Gold is trading around $1,188.00 now, confined in a cone type trading range. The metal needs to push above $1,200.00 or below $1,180.00 to break out of the trading range and decide upon further direction. It is recommended to remain long for now, with risk below the level of $1,165.00. […]
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Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,178.67 in a high volume. According to the daily time frame, we can observe supply in a volume below average. The short-term trend is neutral. According to the H4 time frame, we can observe supply in a high volume. […]
Today, I have posted an alternative wave count for the Gold price as we could see more sideways price action despite the short-term weakness. We have completed wave A and B . A new wave C towards $1,200 should be expected. Red line = resistance Blue line = support Gold price is inside wave C […]
May 7, 2015 – Commodities News Gold Gold has been falling despite the weaker Dollar. The Dollar has been hit by a number of negative U.S reports which have offset the expectation for the timing of the interest rate hike. Reuters reported that higher yields in the U.S and Germany lowered the appeal of the […]
Overview: Since our last analysis, gold has been trading downwards. The price tested the level of $1,180.60 in a high volume. According to the daily time frame, we can observe supply in a volume above the average but with weak price action. The short-term trend is neutral. According to the H4 time frame, we can […]
Gold price has reversed from the 61.8% retracement as we expected and has started making lower highs and lower lows on the 4-hour chart. The trend is bearish as the price is below the Ichimoku cloud and, according to my wave analysis, we should see a strong downward impulsive move soon that will break below […]
Technical outlook and chart setups: Silver is seen to be trading around $16.40 levels for now, at the lower end of a very tight trading range. The metal could drop to $16.20 levels if $16.35 breaks down, and then resume its rally. Bulls are looking to remain in control, till prices stay above $15.80 levels. […]
Technical outlook and chart setups: Gold is trading around $1,188.00/89.00 levels for now and is expected to rise through $1,215.00 levels and higher, in the coming sessions. The metal has corrected since printing highs around $1,200.00 levels recently. Bulls seem to be poised to remain in control till prices stay above $1,168.00 levels for now. […]
May 6, 2015 – Commodities News Crude Oil Oil rallied upwards due to the weaker Dollar and continued airstrikes in Yemen. The Dollar weakened following weaker than expected data and postponed expectations for the interest rate hike. In addition, the API released data showing that stockpiles declined by 1.5 million barrels. This was the first […]
Overview: Since our last analysis, gold has been trading upwards. As we had expected, the price tested the level of $1,199.58 in a high volume. According to the daily time frame, we can observe demand in a volume above the average. Our Fibonacci retracement 61.8% (support) at $1,174.00 was held successfully. Major resistance is seen […]
Dollar Retreats On Trade Deficit Morning Report: 09.00 London • This morning, the US dollar is still on the back foot after yesterday’s widened trade deficit. Aligned with this, oil prices have hit a 2015 high above $60. • The S&P 500 snapped […]
Gold price has most probably made at least a short-term top at $1,199.50 after a 5 wave decline. The upward bounce was a three wave move that reached the target of 61.8% retracement. I believe that now it is time to go short again with $1,150 as a target for the short term. Support is […]
