Overview : Since our last analysis gold has been trading downwards. The price has tested the level of 1,251.82 in a volume above the average. According to the H4 time frame, we got selling climax and potential end of bearish corrective phase (abcd). Our Fibonacci expansion 100 % at the price of 1,262.00 got broken. […]
Technical outlook and chart setups: Silver drops beyond minimum expected price at $17.35 as it was discussed and expected yesterday. The metal broke below the levels of $17.35, the Fibonacci 0.382 support, and dropped towards the levels of $16.60 as seen here. Please note that a bounce from here is expected since it is Fibonacci […]
Technical outlook and chart setups: Gold has dropped around the levels of $1,250.00 as expected and discussed earlier and probably resumed pullback. It was recommended to initiate long positions around the levels of $1,250.00, and further longs can also be added here. Please note that the metal has hit support at Fibonacci 0.382 levels and […]
January 30, 2015 – Commodities News Gold Yesterday, Gold dropped to $1,252/ounce as demand for safe-have assets continued to weaken. In addition, the stock market sharply increased. We should expect the price of the yellow metal to drop further as the political crisis in Greece has faded out and the FOMC statement was hawkish. Today, […]
GOLD: With GOLD selling off sharply during Thursday trading session, further downside pressure is expected in the days ahead. On the downside, support comes in at the 1,250.00 level where a break will aim at the 1,230.00 level. Below here if seen could trigger further downside towards the 1,200.00 level where a break will aim […]
January 29, 2015 – Indices News The FOMC statement was released yesterday and showed optimism regarding the U.S economy. Members of the committee expressed belief that the economy is improving at a ‘solid’ pace and that the labour market conditions are advancing making the possibility of hiking interest rates during the first half of the […]
January 29, 2015 – Commodities News Gold Following the FOMC statement, Gold dropped to $1,280/ounce. The report was hawkish and removed the appeal of the safe haven asset. The price could continue downwards today and reach its support level as the market adjusts to the new information. In addition, the Greek crisis is passing and […]
Aussie Slips As Dollar Receives Fed Boost Morning Report: 8.30 London • This morning, stock markets are stable after selling off heavily into the close last night. The Federal reserve kept on message, reiterating that the ‘patient’ is recovering with means a rate hike is more likely than not this year. Stock markets don’t like […]
Euro Rally Falters Morning Report: 8.30 London • This morning the euro’s rally has stalled, with the EUR/USD dipping 0.31% this morning and the EUR/GBP slipping back by a similar magnitude. It’s more an absence of good news than anything negatively concrete behind today’s flows. Murmurs persist of the ability of the new Greek government to […]
January 28, 2015 – Commodities News Gold Yesterday, Gold increased from $1,275/ounce to $1,297/ounce. However, the metal then lost momentum and dropped back to $1,290/ounce. The climb was caused by the weaker dollar which slightly depreciated ahead of today’s FOMC statement which could provide dovish news with respect to the recent drop in Oil prices […]
Oil prices were seen trading flat on Tuesday, as oil trades near the lowest in almost six years while OPEC says prices for the commodity may surge amid the persisting […] The post Oil Near Six-Year Low amid Supply Glut Concerns appeared first on | HY Markets Official blog. Related Posts:Technical Analysis – USDJPY rallies […]
Euro Steadies As NY Hit By Big Freeze Morning Report: 8.30 London • This morning, stock markets are slightly negative, while the dollar index peels back ahead of the big freeze (and shut down) hitting New York City. Markets are also eyeing Apple and Yahoo’s results released later. […]
January 27, 2015 – Commodities News Gold As expected, Gold started to decline yesterday. The stock market is recovering from its recent turmoil and is retaking profits. Demand for the safe-haven asset decreased and pushed the price of the yellow metal down to $1,275/ounce. Today, watch the U.S. data which will be released at 1.30PM (GMT) and […]
Gold price remains in a short-term downtrend. The price, as I mentioned in previous posts, is in danger of falling towards $1,260 or even $1,220. It seems that this correction has started. Support at $1,270-75 is critical for the short-term trend. Red line = support trend line Gold price is breaking below support trend line, […]
After Greece’s election results, the metal lost almost 1% at yesterday’s afternoon London session of a 5-month high. Traders have shifted their eyes on tomorrow’s Federal Reserve meeting. This year, the yellow metal has jumped 10% supported by the European factors like ECB’s QE and Greek elections. After the election results, the yellow metal again […]
Overview : Since our last analysis gold has been trading downwards. The price has tested the level of 1,275.70 in an average volume. According to the daily time frame, we can observe weak supply in a volume below the average which is a sign that selling gold at this stage looks risky. According to the […]
January 26, 2015 – Commodities News On Friday, the price of Gold peaked to fresh 5-month high at $1,307/ounce but since that dropped below $1,290/ounce. The price of the yellow metal was slightly spurred by the results of Greek election when Syriza anti-austerity party won. However, the fact that the stock market is supported by […]
Gold price is weak starting this week with support very close to $1,280. Breaking below that level could signal the start of a deeper correction towards $1,260 or lower. Gold short-term trend is bearish while medium term trend is bullish targeting $1,330. Red lines = support Two red lines on the chart above show the […]
Euro Rallies Despite Syriza Victory Morning Report: 8.30 London • Far left party Syriza fell two short of forming am outright government in Greece, but they are expected to form the majority share in coalition government. The long term consequences of this development are still unclear, but judging by market reactions so far, election result is […]
The precious metal gave a downtick on Friday’s session ahead of the Greek election. The election result has just come out. The Greek radical left party wins election. The yellow metal takes this opportunity to move northward. At the early Asian session, the metal is trading with bullish bids, expecting that anti-austerity Syriza party implements […]
Technical outlook and chart setups: Silver cleared its initial extension at $18.30/40 levels last week. The metal could be poised to push higher towards $18.90 levels, the next extension. Please note that the metal has already moved, unfolding an inverted head and shoulder reversal since $15.50 levels. One should not be surprised to see $21.00 […]
Technical outlook and chart setups: Gold seems to have resumed its long term uptrend after bouncing off from $1,170.00 levels early this month. The metal has raised through the $1,300.00 mark since then and is also looking to push through $1,330.00/40.00 levels. Immediate resistance is seen at $1,320.00/25.00 levels, followed by $1,340.00 and higher while […]
GOLD: With a marginal close seen the past week, corrective pullback is envisaged. Resistance resides at the 1,315 level where a break will aim at the 1,330.00 level. A break of here will turn attention to the 1,350.00 level followed by the 1,380.00 level. A cut through here will extend gains towards the 1,400.00 level. […]
Overview : Since our last analysis gold has been trading sideways around the price of 1.295.00. I have found support around the price of 1,281.00 (swing high like support), and this level is successfully resisted. According to the H4 time frame, we can observe weak supply in a volume below the average, which is a […]
Technical outlook and chart setups: Gold has made another high at $1,308.00 levels and is seen trading below $1,300.00 mark for now. The metal might be preparing for a pullback lower towards $1,250.00 levels, as it was discussed yesterday. Immediate support is seen at $1,280.00, followed by $1,250.00/60.00, $1,230.00 and lower, while resistance is seen […]
Draghi Delivers…Now What? Morning Report: 8.30 London • It was a huge day for Mario Draghi’s ECB yesterday and the general consensus is that he did not fluff his lines. The highly anticipated QE program came in slightly bigger than expected and so far, there are few holes that analysis have found to pick through. Those […]
January 23, 2015 – Commodities News On Thursday, the price of Gold peaked to fresh 5-month high at $1,307/ounce but again as in previous days reversed fell down. Despite the fact that the European economy struggles which would pull the demand for safe-haven assets up, the stock market has been performing well (e.g. S&P500 up […]
Gold price pulled back yesterday towards $1,280 as expected and then reversed to new highs. Price is pulling back down, but as long as price is above $1,285-80, we should expect to see $1,330. Otherwise, the pullback could push price towards $1,260. Green line = support Gold price is above the short-term Ichimoku cloud and […]
The ECB latest announcement supported gold. The yellow metal attracts inflows followed after the larger than expected QE program from the ECB. The yellow metal has been extending its upward journey a third week in a row. Currently, gold is trading on a muted mode after the Saudi King Abdullah’s death. Besides, the HSBC China […]
Overview : Since our last analysis gold has been trading downwards. The price tested the level of 1,279.33. I have found support around the price of 1,281.00 (swing high like support), and this level is successfully resisted. According to the H4 time frame, we can observe weak supply in a volume below the average, which […]
