The yellow metal extended rally for the 2nd day in a row. Today at the Asian session, the metal managed to hold with gains. We recommended buying above $1,185.00 in Monday’s article with targets at $1,190.00, $1,192.00, and $1,195.00. In the latter case, it can retest $1,197.00 and $1,200.00. The metal touched $1,199.40 at yesterday’s […]
Gold prices traded flat on Tuesday, with the firmer US dollar weighing on the precious metal. Gold traders will be focusing on the release of the US non-farm payrolls report […] The post Gold Remains Flat, US Jobs Report in Spotlight appeared first on | HY Markets Official blog. Related Posts:Trading Signals for GOLD (XAU/USD) […]
Overview: Since our last analysis, gold has been trading upward. As we expected, the price tested the level of $1,196.08 in a high volume. According to the daily time frame, we can observe demand in a volume below the average. Our Fibonacci retracement 61.8% (support) at $1,174.00 was held successfully. Major resistance is seen around […]
May 5, 2015 – Commodities News Crude Oil Yesterday, Crude Oil declined as the Dollar strengthened. Losses were also seen as weak data was released from China; the HSBC Manufacturing PMI came out at 48.9 when predicted to be 49.4. As China is the second largest consumer of oil, this caused speculation that demand for […]
Aussie Rallies Despite Rate Cut Morning Report: 09.00 London • This morning, the Australian dollar is on the rise despite the RBA cutting rates to 2.00%. There had been some speculation of an even deeper cut, so in the circumstances, an in-line cut to 2.00% is seen as good news for the Aussie. The AUD/JPY is […]
Gold price is bouncing from its recent low at $1,170. Gold price completed 5 waves down from $1,215 to $1,170 and is now making an upward corrective bounce that is most probably not going to break above the 61.8% retracement. Gold price has already reached the 50% retracement and the Ichimoku cloud resistance. A move […]
Technical outlook and chart setups: Silver had rallied through $16.76 levels yesterday before pulling back lower and is looking to extend its rally higher for now. The metal seems to be better poised to push through $17.40/50 levels and subsequently towards $18.40/50. Immediate support is seen at $15.80 levels, followed by $15.60, $15.30 and lower […]
Technical outlook and chart setups: Gold had raised to $1,192.00 levels yesterday before retracing lower, but the rally is set to continue further. The metal has turned buy on dips for now till prices stay above $1,168.00 levels. Immediate resistance is seen at $1,215.00 levels, followed by $1,225.00, $1,235.00/40.00 and higher while support is seen […]
May 4, 2015 – Commodities News Gold Gold declined at the end of last week as investors renewed their expectations for the rate hike in the U.S. The FOMC statement was more hawkish than expected and showed that a summer hike is not off the table. Traders also tracked the direction of U.S stocks as […]
Overview: Since our last analysis, gold has been trading downward. The price tested the level of $1,169.74. I am waiting for a clear direction and stong volume. According to the daily time frame, we can observe supply in a volume below the average (weak supply), which is a sign that selling at this stage looks […]
Dollar Stable Ahead Of Long Weekend Morning Report: 09.00 London • This morning, the S&P 500 is at least stable after two days of heavy selling, while the Dollar index is on the rise again though still below Wednesday’s close. • The USD/JPY […]
Gold price remains above the support area of $1,180-75. Today we could see a bounce towards the short-term resistance of $1,200, but the trend remains unclear as the trading range remains unbroken. I prefer to be neutral in the short term, while my longer-term outlook remains bearish. Gold price is below the Ichimoku cloud in […]
The yellow metal edged lower and probably made a double top at $1,214.70. At yesterday’s session, the metal managed to made a higher low at $1,178.00 on a closing basis, but intraday it made a low at $1,169.70. The previous low was at $1,174.90 and then rounded to $1,174.00. The FOMC meeting delivers a hawkish […]
Technical outlook and chart setups: Silver seems to be looking to rally towards $18.40/50 levels at least, after having tested lows at $15.80 levels again last Friday. The metal is still preferred to buy on dips with bulls poised to push it higher till prices stay above $15.60 levels. It is therefore recommended to remain […]
Technical outlook and chart setups: Gold had stopped us out at $1,170.00 levels on Friday before reversing. The metal has bounced off $1,169.00 levels as seen here, which is also the fibonacci 0.618 retracement of the rally between $1,144.00 and $1,225.00 levels respectively. It is recommended to initiate long positions again, with risk at $1,165.00 […]
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April 30, 2015 – Commodities News Crude Oil WTI Crude Oil rallied to a high of $59.2/barrel. Gains were first seen as the Dollar declined on the back of weak data. This climb was boosted as the EIA released data which showed that stockpiles increased by a lower amount than expected; stock piles increased 1.910Million […]
RBNZ Shifts To Easing Policy Morning Report: 07.00 London • This morning, the S&P 500 is still reeling from yesterday’s poor GDP figures. The dollar stabilised yesterday after the GDP news as the Green offers both a safe haven and US economic proxy. • The big mover yesterday is the New Zealand […]
Overview: Since our last analysis, gold has been trading upwards. As we had expected, the price tested the level of $1,214.81 in a high volume. According to the daily time frame, we can observe a demand in a high volume. Our Fibonacci retracement 61.8% (support) at $1,174.00 was held successfully. It caused the price to […]
Pound Shrugs Off Election Uncertainty Morning Report: 07.00 London • This morning, the dollar index is extending its recent losses, firmly breaking the previous support of the 14 day moving average. This comes as interest rate hike expectations shift even further into the future. • The main dollar pairs are on the rise, benefitting from […]
Gold price made a higher high towards our short-term resistance/target at $1,215-20. Gold price will move in a short-term bullish trend as long as the price remains above $1,200. We could possibly see another move higher towards the area around $1,250 if we break above $1,222. Gold price is trading above the Ichimoku cloud in […]
Technical outlook and chart setups: Silver ralled through the past interim resistance around the level of $16.70 yesterday. The metal is expected to trace lower to $16.00 before resuming its rally. It is hence recommended to book profits on long positions taken earlier and look to buy at lower levels again. Immediate support is seen […]
Technical outlook and chart setups: Gold has taken out initial interim resistance at $1,210.00 by printing highs at $1,215.00 as we can seen here. A pullback towards $1,190.00 is quite possible before the rally could resume. It is recommended to book profits on long positions taken earlier and look to again enter at lower levels. […]
Both crude benchmarks dropped sharply on Tuesday before the release of the US crude stockpiles report. Prices for the North American West Texas Intermediate (WTI) crude for June delivery went […] The post Oil Declines as US Crude Inventories Advances to Record appeared first on | HY Markets Official blog. Related Posts:Will Netflix earnings take […]
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Overview: Since our last analysis, gold has been trading upwards. As we expected, the price tested the level of $1,206.92. According to the daily time frame, we can observe a demand in an ultra high volume (buying climax) with very strong price action. Our Fibonacci retracement 61.8% (support) at the price of $1,174.00 was held […]
Gold price had broken the short-term resistance and managed to reverse the bearish picture as the price broke above the Ichimoku cloud. The breakdown below $1,180 could be fake. Now, we look very closely if this is a confirmed fake or just a bounce before a larger downward move. Blue lines = triangle pattern Gold […]
Technical outlook and chart setups: Silver resumed its uptrend by breaking higher and reaching the level of $16.50 yesterday. The metal has formed a higher low at $15.60 confirming its upward movement here. Also note that the counter trend-line resistance was broken and any dip from here on could be considered as opportunity to go […]
Technical outlook and chart setups: Gold seems to have resumed its uptrend after bouncing off sharply from the recent lows created around the level of $1,175.00. The metal has also crossed its counter trend-line resistance for now and is trading at the level of $1,200.00. It is recommended to remain long with risk at $1,170.00. […]
Dollar Extends Retreat Morning Report: 07.00 London • This morning, the dollar index is continuing its retreat, while the S&P 500 extends yesterday’s pullback. • The dollar’s struggle is helping the dollar pairs to push higher. The AUD/USD is leading the […]
