Gold price started the day in negative mode and we observe that short-term support and the recent low at $1,193 was broken as the price reached $1,190. This is the general support area but the overall picture is not good for bulls. The price has the potential to reach $1,150-$1,130, which will be an important […]
Overview : Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of $1,197.46 in a high volume. According to the daily time frame, we can observe a demand in an volume below the average (weak demand). Our Fibonacci retracement 61.8% at the level of $1,211.00 held successful, […]
April 13, 2015 – Commodities News Gold On Friday, Gold moved in the same direction as the dollar which is quite rare. The price climbed despite the stronger dollar which appreciated as FOMC member, Jeffrey Lacker, supported a June interest rate hike. As the world stock reached highs not seen in several years, we would […]
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Technical outlook and chart setups: Silver is seen to be setting up for another rally towards the levels of $18.40/50 at the sessions to come by. The metal is trading comfortably above $16.00/20 at the moment, having formed lows around $16.10 last week. It is recommended to remain long with risk at $15.50 for now. […]
Technical outlook and chart setups: Gold is seen to be trading at the levels of $1,204.00/05.00 for now and is likely to be pushed higher towards $1,240.00/50 in the coming sessions. Immediate intermediary support is seen at $1,192.00 followed by $1,178.00, $1,162.00, and lower, while resistance is seen at $1,240.00/50.00 followed by $1,285.00, and higher […]
The yellow metal prices manage to close with gains for 4 consecutive weeks. For 3 consecutive weeks, the metal has been struggling to close above 20Esma $1,212.00, though it was breached on a daily basis. Last Friday, the metal managed to close above 50Dsma but rejected at 100Dema $1,212.00. In case the metal closes above […]
Gold price managed to hold short-term support on Friday and bounced back above $1,200, bringing bulls back into the game. The key levels for the next big move in gold price are at $1,222 and at $1,190. Red line = horizontal support Yellow line = upward sloping trend line Blue line = horizontal resistance Gold […]
Crude prices were seen trading slightly higher on Friday and seen heading for a weekly gain as traders continue to focus on Iran’s nuclear program. Prices for the North American […] The post Oil Heads For Weekly Gain; Iran in Spotlight appeared first on | HY Markets Official blog. Related Posts:Technical Analysis – EURCHF heads […]
Overview : Since our last analysis, gold has been trading upwards. The price tested the level of $1,205.37 in a high volume. According to the daily time frame, we can observe a supply in an average volume. Our Fibonacci retracement 38.2% at the level of $1,194.00 held successfully and that is the reason behind an […]
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Gold price is trading in the middle of the range between important resistance at $1,222 and important support at $1,180. Trend-line support is broken and Ichimoku cloud is being tested. A longer-term outlook remains bearish as the weekly chart does not look good for bulls. Red line = support Blue line = resistance Yellow line […]
Technical outlook and chart setups: Gold is looking to resume rally towards $1,267.00 , after having made higher lows at $1,192.00 yesterday. The metal has formed a bullish morning star candlestick pattern on the 4 hour chart setups and is likely to teste yesterdays lows as well. It is hence to remain long with risk […]
Technical outlook and chart setups: Silver seemed to form a bottom just ahead of the level of $16.00 yesterday and is bouncing off higher at the moment. The metal has confirmed a bullish morning star candlestick pattern on the 4 hour chart view, indicating a reversal from the current levels. It is still recommended to […]
The yellow metal has been extending its losses for three consecutive days. The US dollar rebounded from the lower levels, which dampened the momentum of the metal. After the FOMC minutes, the metal broke the 50Dsma and closed below that. At the FOMC meeting, several participants judged that economic data and outlook were likely to […]
Commodity News April 9th 2015 Yesterday, the price of of U.S. Oil plunged following the release of the Crude Oil Inventories report. The data showed that the weekly change in the number of barrels of oil stored by U.S. firms was significantly higher than the forecast figure of 3.429M, the actual figure released showed that […]
April 9, 2015 – Commodities News Gold After trading in a narrow channel between $1,207/ounce and $1,214/ounce, Gold declined yesterday and dropped to $1,200/ounce. Losses were seen as William Dudley, an FOMC voting member, was relatively hawkish and discussed that the June rate hike is still on the cards. Most traders also expected the FOMC […]
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April 8, 2015 – Commodities News Crude Oil WTI Yesterday, Crude Oil WTI climbed to its highest price seen in 2015 at $54/barrel. Gains were seen due to comments from the EIA that they expect production to start falling soon and also due to speculation that inventories could come out below expectations. After reaching this […]
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April 7, 2015 – Commodities News Crude Oil WTI Yesterday, oil added over $2/barrel as Saudi Arabia increased their prices to Asia due to signs of rising demand. In addition, a report from Genscape Inc showed that supplies at Cushing declined by 300,000 barrels over the past week. Supplies at Cushing are estimated to be […]
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Gold price made a fake break out and short-term reversal today from $1,224. Gold did not close above $1,222 as bulls wanted and reversed despite a breakout to new short-term highs. This bearish signal could result into a deeper pullback. This week closes are going to play a significant role. Blue line = resistance Red […]
Technical outlook and chart setups: Silver has been pushed through $17.20, just shy of $17.40 as seen here. The metal is forming a bearish engulfing candlestick pattern for now and is likely to be preparing to push lower towards the level of $16.00 soon. It is recommended to remain short for now with risk around […]
Overview : Since our last analysis, gold has been trading upwards. As we expected, the price has tested the level of $1,223.21 in a high volume. According to the daily time frame, we can observe weak demand in a volume below average. According to the lower time frames, we can observe buying climax (hidden selling) […]
April 6, 2015 – Commodities News Gold Gold started the new week with a positive gap. On Friday, the gold market was closed and had to wait until Monday to price in the low U.S. Non-farm payrolls data which hurt the dollar. The price rose as market assessed the likelihood that interest rates will be […]
Gold price opened with a gap up early on Monday following the disappointing Non-Farm Payrolls number released on Friday. As we mentioned on Friday, there was still no sell signal as the price remained above the Ichimoku cloud. But even with this gap up, the price has not broken above the recent highs and critical […]
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Overview : Since our last analysis, gold has been trading upwards. As we expected, the price has tested the level of $1,202.69 in a volume below the average. According to the daily time frame, we can observe weak demand in a volume below average. The short-term trend is neutral, so we need a clear direction […]
April 3, 2015 – Commodities News Gold Gold ranged above $1,200/ounce before U.S. Jobless Data came out. The number of people applying for benefits was lower than expected and pushed the price down. The price also reacted to U.S. Factory Orders data which showed that factory orders rose by 0.2% instead of declining by the […]
