Technical outlook and chart setups: Silver is drifting lower into $16.00 levels and bounces back. The metal could be well supported around $15.70/80 levels and long positions can be added there. A push higher from the current levels could possibly reach $16.70 and $17.20 on the higher side. Only a break of $17.80/18.00 levels could […]
Technical outlook and chart setups: Gold has drifted sideways since yesterday, after printing fresh highs at $1,194.00/95.00 levels. The metal could be attempting yet another push higher towards $1,207.00/08.00 at least. It is good to hold long positions as of now, risk remains at $1,140.00. The bullish story could continue for a while before the […]
The yellow metal was rejected at 20Dsma and closed below that in yesterday’s session. The US dollar gained momentum after Japan had entered into recession. Today, traders are turning attention to the US CPI data. Any positive readings are likely to put pressure on the yellow metal towards $1,178.00, $1,173.00, $1,162.00, and $1,146.00. Ahead of […]
Oil prices moved lower on Monday, Nov. 17, as global market participants responded to concerns about the strength of the global economy. By 2:48 p.m. Eastern Time, December West Texas Intermediate oil was 0.34 percent lower for the day at 75.56 per barrel, while January brent crude was down 0.28 percent at 79.19, according to […]
Canadian stocks reached a seven-week high in its second consecutive increase after gold producers rise. Banks also boost the gauge along with Valeant Pharmaceuticals International Inc. after it ended the bid for Allergan Inc. The Standard & Poor’s/TSX Composite Index added 0.3% or 39.40 points to 14,882.50 at the closing trade in Toronto. It is […]
Gold held on to its losses after it fell from a two week high with the dollar strengthening alongside a decline in energy prices to reduce investor demand. Spot gold traded at a price per ounce of $1,184.72 mid morning Singapore time, down from yesterday’s $1,186.57 based on generic pricing from Bloomberg. The precious metal […]
Crude oil prices continue to decline on Monday on worries over the demand as Japan falls into a recession. Members of the Organization of Petroleum Exporting Countries will be meeting in Vienna on Nov 27 to tackle the falling trend of the commodity as analysts speculate that producers may not cut output completely. Futures for […]
November 17, 2014 – Commodities News Gold On Friday, Gold managed to break out of its sideways channel and climbed above its technical resistance at $1,180/ounce. The price then reacted to the weaker dollar and reached a high of $1,194/ounce. During Monday’s trading hours the price has remained high and is trading above $1,180/ounce as […]
Overview : Since our last analysis, gold has been trading upwards. The price tested the level of 1,181.95 in an ultra high volume according to the daily time frame. Since the price has broke the level of 1,179.00 in a high volume and strong price action, we may see possible testing the level of 1,207.00 […]
Gold price has held the important support at $1,145 on Friday. Despite the short-term weakness signals, prices reversed strongly and broke above the previous high at $1,178. Price has now reached the 2nd resistance at $1,190-$1,200. My longer-term view remains bearish as long as we are below $1,255 targeting at $1,050. Black line = support […]
Yen Rallies On Japan Recession Morning Report: 08.30 London • In the late hours of Sunday night/Monday morning, the Japanese economy dropped some unexpected news. Instead of its economic activity increasing by 0.5% in the last quarter, GDP actually dropped by 0.4%. This formally slides the Asian powerhouse back into recession for the fourth time since […]
The yellow metal closed marginally higher for the 2nd consecutive week. Today, at Asia’s session the metal made a high at $1,193.40. Ahead of the crucial economic event, FOMC meeting minutes on Wednesday and today’s industrial output data will decide the fate on the metal prices. The gold referendum taking place on November 30, 2014 […]
Technical outlook and chart setups: Silver rallieds through $16.40 levels, taking out resistance at $16.20. The metal could possibly take a pause before resuming its next rally. It is recommended to book partial or all profits on long positions taken earlier. The metal could dip towards $15.80 levels before resuming rally towards $17.80/18.00 levels. Support […]
Technical outlook and chart setups: Gold has rallied to $1,195.00 levels in last 2 trading sessions. The metal could still have room left on the higher side. $1,207.00 looks like the next potential immediate target. It is recommended to hold long positions and move risk to $1,145.00. As seen here, the $1,207.00 is a potential […]
GOLD: With GOLD closing higher marginally for a second week in a row the past week, it now faces further recovery risk in the days ahead. On the downside, support stands at the 1,150.00 level where a break will aim at the 1,131.57 level. Below here if seen could trigger further downside towards the 1,100.00 […]
Overview : Since our last analysis, gold has been trading downwards. The price tested the level of 1,147.83 in a volume below the average. Our Fibonacci retracement 61.8% at the price of 1,149.00 is again on the test. According to the 4H time frame, we can observe potetential end of bearish corrective phase (abcd). Be […]
Gold price is breaking below short-term support levels and is giving bearish signals in the short-term charts also. There is increased probability that the upward corrective bounce ended at $1,178 and that we start a new downward move that is expected to reach $1,050. Black line = resistance Blue line = support Gold price has […]
Germany Avoids Recession…Just Morning Report: 08.30 London • This morning, stock markets are once again mired in a trading range at the highs, while the dollar index holds above its moving average. […]
The yellow metal has been trading in a tight range. The prices break below the symmetric triangle, height is at $46. Ahead of US core retail, retail sales, and consumer sentiment data, the metal looks weak. We recommend fresh selling below $1,157.00 with the targets at $1,154.00, $1,150.00, and $1,145.80. As we recommended earlier, we […]
Technical outlook and chart setups: Silver has dropped towards $25.30 levels for now. Please note that the current levels is the fibonacci 0.618 support of the rally from $15.00 to $15.80 levels last week. A bullish reversal here would warrant a bullish setup against $15.00. It is recommended to remain long for now, and also […]
Technical outlook and chart setups: Gold has been moving in a cone consolidation as seen here, after having made lows at $1,145.00 levels on November 11, 2014. The metal is awaiting a trigger to break out higher (above $1,170.00) or lower ($1,155.00) side. Resistance is seen at $1,207.00 (fibonacci 0.618), followed by $1,235.00/55 and higher […]
Gold is set to post a loss this week with investors still assessing the scheduling of the arrival of higher interest rates in the US amidst falling prices of oil and holdings under the SPDR Gold Trust. The price for spot gold declined by as much as 0.4% for a price per ounce of $1,157.94 […]
Overview : Since our last analysis, gold has been trading sideways around the price of 1,161.00. I have placed Fibonacci expansion from the most recent swings to find potential support levels. I got Fibonacci expansion 61.8% at the price of 1.153.00 (successful held). According to the 4H time frame, we can observe strong reaction from […]
November 13, 2014 – Commodities News Gold Yesterday, Gold ranged between $1,156/ounce and $1,170/ounce. Low volatility was seen due to a lack of U.S. data and restricted movement on the stock market. Tomorrow, U.S. Retails Sale data will be released and should create better trading opportunities. Today, traders should watch the support and resistance, any […]
Gold price reversed lower on Wednesday towards $1,153 support after breaking short-term support level of $1,159. Short-term trend has changed to bearish as long as price is below $1,171. Next support to watch is at $1,153 and $1,146. Longer-term target of $1,050 remains valid. Gold price has made the minimum required upward correction after completing […]
Pound Stumbles After Employment Miss Morning Report: 08.30 London • This morning, the S&P 500 is continuing to trade within a tight range, slowly working off recent over bought conditions. The dollar index is slipping lower, but still holding around the highs. […]
Technical outlook and chart setups: Silver has been in a range since yesterday, between $15.55 and $15.75. Resistance is seen at $15.90/16.00, followed by $16.20/40, $17.80/18.00 and higher while support is seen at $15.20/30, followed by $15,00 and lower respectively. A push is required through $16.00 levels to instill further confidence into the upswing. Minimum […]
Technical outlook and chart setups: Gold has remained locked in a tight range for the last 24 hours. The metal had bounced off $1,145.00/50.00 levels earlier, indicating that a further push higher remains a possibility. It still needs to clear through $1,180.00 levels, to confirm a $1,207.00 possibility on the higher side. It is recommended […]
Gold continued to fall for the second day in a row with the Federal Reserve preparing to increase its interest rates next year, raising the value of the dollar, while the biggest gold backed exchange traded product entered its longest decline in 16 months. Spot gold lost as much as 0.4% for a price per […]
Overview : Since our last analysis, gold has been trading upwards. As we expected, the price rejected from the level of 1,149.00 and tested the level of 1,173.11 in an average volume. I have placed Fibonacci retracmeent from the most recent swings to find potential support levels. I got Fibonacci retracment 61.8% at the price […]
