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Gold futures rose on Friday but expected to hit a weekly drop as traders continue to speculate over Fed rate hike. The yellow metal for immediate delivery added 0.4% to […] The post Gold Gains But Heads For Weekly Drop appeared first on | HY Markets Official blog. Related Posts:Weekly Forex Outlook: 12/04/2024 – More […]
April 20, 2015 – Commodities News Gold On Friday, Gold slightly increased and returned to Thursday’s high just below $1,210/ounce. The price rose as the U.S. stock market dipped after profiting for a few days. However, the price did not exceed $1,210/ounce as China surprisingly reduced their bank reserve ratios which should increase the money […]
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April 17, 2015 – Commodities News Gold On Thursday, Gold peaked at $1,209/ounce before losing momentum and dropping lower. After the U.S. Philly Manufacturing Production index was released the price dropped to $1,195/ounce. However it then recovered to $1,201/ounce as Dennis Lockhart commented on weak economic data from the first quarter. As the price did […]
Technical outlook and chart setups: Gold is trading around $1,200.00 now, looking to rally higher towards $1,240.00 soon. The metal remains in control of bulls util prices stay above $1,170.00. It is recommended to hold long positions with risk at $1,170.00. Immediate support is seen at at the level of $1,183.00 followed by $1,178.00, $1,162.00, […]
The major forex currencies benefits from the USD weakness, but not the precious metal. The metal has been making a multiple top at the previous swing high of $1,210.00 in the four-hour chart. At yesterday’s session, the US readings were published in negative bias. But the Philly Fed Manufacturing index gave a positive reading, which […]
Overview: Since our last analysis, gold has been trading sideways around the price of $1,204.00. According to the daily time frame, we can observe supply in a volume above the average, but the price action is weak (weak supply). I have placed Fibonacci retracement to find potential resistance levels and have got Fibonacci retracement 61.8% […]
Technical outlook and chart setups: Silver is unchanged in its bullish setup for now. The metal is trading at the level of $16.30 and it is expected to continue rally towards $17.40/50 and $18.40 respectively. Please note that it is still holding the fibonacci 0.618 support at $16.00. It is recommended to remain long and […]
Gold price remains inside the trading range of $1,222 and $1,180. The trend is neutral. The price moved back again below the Ichimoku cloud as bulls could not push the price higher than $1,209. Now, it remains to be seen if support at $1,180 gets broken. Red line = horizontal support Green line = trend […]
April 16, 2015 – Commodities News Crude Oil WTI Crude oil received a boost yesterday and added over $3/barrel. The price was already creeping higher as traders expected that supplies could be reaching a peak. The speculation was boosted as the EIA released a report showing that inventories climbed at a lower rate than expected […]
Overview : Since our last analysis, gold has been trading upwards. As we had expected, the price tested the level of $1,208.82 in a high volume. According to the daily time frame, we can observe a demand in a volume below the average. I have placed Fibonacci retracement to find potential resistance levels and have […]
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Gold price held support at $1,180 and managed to break short-term resistance to move back towards the Ichimoku cloud resistance. Gold price remains inside the bigger trading range and this confirms that the trend is neutral. This can also be seen in the weekly chart where the price is trapped between the kijun- and tenkan-sen. […]
Technical outlook and chart setups: Silver is expected to remain above the level of $16.00 from here on. The metal is seen to be trading at $16.40/50 at the moment after bouncing off from $16.00 yesterday. The fibonacci 0.618 support should hold for now and Silver is expected to rally towards $18.40/50 at least. It […]
Technical outlook and chart setups: Gold seems to have formed a base around $1,182.00/83.00 for now. The metal is preparing to rally beyond $1,240.00/50.00. It is recommended to remain long for now, with risk at the level of $1,170.00 . Immediate support is seen at $1,180.00 followed by $1,170.00, $1,162.00, $1,140.00, and lower, while resistance […]
At yesterday’s session, the metal closed above the 20 and 50dsma. Today, the metal has faced resistance between $1,210.00 and $1,212.00 respectively at the Asian session. In the four-hour chart, the metal price has been making lower lows and lower highs formation. In case the price closes above $1,212.00, bulls can extend their rally towards […]
Gold futures were seen sliding on the first day of the trading week, dragged lower by the firmer US dollar and China’s downbeat trade balance data. Gold prices fell 0.39% […] The post Gold Falls Below $1,200 on Stronger Dollar appeared first on | HY Markets Official blog. Related Posts:The dollar: there would have been […]
April 15, 2015 – Commodities News Crude Oil WTI Crude Oil climbed yesterday as traders began to anticipate that supplies will reach a peak following comments from the EIA that supplies could decline by 57,000 barrels per day between April and May. Later in the session the API released inventory data which showed that supplies […]
Overview : Since our last analysis, gold has been trading downwards. As we had expected, the price tested the level of $1,183.79 in a high volume. According to the daily time frame, we can observe a supply in a volume above the average. The price broke our Fibonacci retracement 38.2% ($1,194.00). We may see potential […]
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Technical outlook and chart setups: Silver has bounced off exactly from the level of $16.00 yesterday as we had forecasted earlier. The metal has produced an engulfing bullish candlestick pattern as seen here. Furthermore, it has received support from the fibonacci 0.618 level around $16.09. It is strongly recommended to remain long and look to […]
Technical outlook and chart setups: Gold is seen to be trading around $1,193.00 at the moment after printing lows around $1,183.50 yesterday. The metal bounced back sharply from the lows and regained the $1,190.00 region soon enough. It is hence recommended to hold long positions with risk below $1,170.00. Bulls seem to be poised to […]
GOLD The yellow metal is supported by the weak US data. The retail sales reading printed positive bias but below the expectations that made USD weaker. The metal changed its direction from $1,183.70 but rejected at $1,200.00 and 50 Dsma $1,199.50 again. At yesterday’s session, the metal fell below the 20dsma, but at the end […]
Gold price managed to hold important support at $1,180 and bounced after the weak retail sales announced. Gold price bounced towards $1,200 where short-term resistance is found. Bearish positions and trend are favored as long as we trade below $1,202. Red lines= resistance levels Gold price bounced off $1,180 today but could not break inside […]
April 14, 2015 – Commodities News Crude Oil WTI Oil is climbing as traders begin to speculate that supplies have reached a peak and could start to fall. The speculation was boosted by comments from the EIA yesterday who noted that they expect production from 7 regions to decline by 57,000 barrels each day between […]
Overview : Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of $1,187.51 in a high volume. According to the daily time frame, we can observe a supply in a volume above the average. The price broke our Fibonacci retracement 38.2% ($1,194.00). We may see potential testing […]
Technical outlook and chart setups: Silver has dropped again to test interim support around $16.00 as seen in the 4-hour chart. The metal is right at the Fibonacci 0.618 support level now and a bullish bounce should be expected. It is hence recommended to remain long and look an opportunity to add further positions with […]
Technical outlook and chart setups: Gold dropped lower towards intermediary support at the level of $1,190.00. The metal is expected to produce a bullish bounce from the current levels. Please note also that Fibonacci support is around $1,190.00. It is recommended to hold long positions with risk at $1,170.00 now. A break below $1,190.00 is […]
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