Gold price continues its short-term upward bounce in what I continue to believe is an erratic corrective bounce that will soon reverse lower. My short-term target is $1,260-65 and I my longer-term target is $1,150-$1,050. Red line = resistance Blue line = support Gold price remains below the Ichimoku cloud in the daily chart and […]
Technical outlook and chart setups: Silver has been trading between $17.20 and $17.50 levels for a few days now. It is quite possible that the metal will re-tests the lows at sub $17.00 levels before rallying towards fresh high above $18.00. Resistance is seen at $17.80 (interim), $18.00, $18.80 and higher, while support is seen […]
Technical outlook and chart setups: Gold made a high at $1,250.00 levels on October 15, 2014. Currently trading at $1,246.00/47.00, the metal is preparing for a pullback towards $1,208.00/10.00. This could just a correction, before the metal again rallies to a new high at $1,275.00 and $1,295.00 respectively. Immediate resistance is seen at $1,250.00, while […]
Gold hovered near its highest in five weeks with investors weighing the global economy against the outlook for changes in monetary policy around the world. Spot gold traded at a price per ounce of $1,246.19 mid morning Singapore time today, slightly down from yesterday’s $1,246.91 after it gained by 0.7%, based on generic pricing from […]
Overview: Since our last analysis, gold has been trading sideways around the price of 1,245.00. We are still waiting for larger volume and stronger price action. Our submajor Fibonacci retracement 38.2% at the price of 1,245.00 is again on the testб so be careful when buying gold. If the price breaks the level of 1,245.00 […]
October 20, 2014 – Commodities News Gold Gold has remained above $1,230/ounce since Wednesday and is currently trading around $1,242/ounce. Concerns over a global economic slow down have pulled the price of safe haven assets up. Once the market recovers from its recent shock, however, the price may quickly fall back below $1,220/ounce. Today, there […]
Gold price remains in short-term up trend and inside the upward corrective bounce that started at $1,181. Longer-term trend remains bearish and our longer-term target is now slightly lifted inside the area of $1,150-$1,050. Red line= resistance Blue line =support Gold price remains below the Ichimoku cloud in the daily chart. Gold price is soon […]
Markets Positive As Traders Pause For Breath Morning Report: 09.00 London • Financial markets have a positive bias this morning, with the S&P 500 carrying over some of Friday’s momentum. The dollar index is neutral this morning. […]
The yellow metal was rejected at 50Dsma, a high made at $1,249.30. The metal has been making lower highs for 3 days. Today, as of now it made a low at $1,234.30, trading above previous lows. The weekly support level is at $1,221.00 levels (20Dsma). In case of a daily close below 20Dsma, the bears […]
Gold retreated for a third consecutive day to continued its fall from its highest level in five weeks with demand weakening behind rallies in equity markets around the world. Spot gold lost as much as 0.3% to arrive at a price per ounce of $1,234.74 and was trading mid morning Singapore time at $1,236.04, based […]
Markets Mixed As Rally Falters Morning Report: 09.00 London • Markets staged a recovery of sorts yesterday, lifting off the highs. Yet US equities are still over 7% below the market peak struck just a few weeks ago, with European stocks slipping even further. The dollar index is making small gains this morning as this too […]
October 17, 2014 – Commodities News Gold After the price bounced off $1,250/ounce on Wednesday, Gold started to range in a narrow channel between $1,235/ounce and $1,245/ounce. The price was supported by worries of a slowdown in the U.S. following weak Retail sales data. The stock market also fell to new lows and started to […]
Gold traded just below its highest in five weeks and is on track to record a second consecutive weekly gain, its first since July, behind outlook that the global economic slowdown could end up delaying an increase in borrowing costs in the US. Spot gold traded mid morning Singapore time at a price per ounce […]
Anyone who has been watching the market for the past few years knows that Wall Street wanted the stock market to get back to where it was. You know, to the optimism and price levels in the time before the 2008-2009 financial crisis. And Wall Street did get its way in the Dow Industrials more […]
Markets Steady After Global Slide Morning Report: 09.00 London • The pull back from the September high intensified yesterday as traders positioned themselves for a global slow down. The US was at the centre of this after a slew of poor economic data points hit financial markets and the dollar index. Both the dollar and the […]
Gold traded near its highest value in five weeks behind outlook that the US recovery may take a hit from slowing economies around the world, increasing demand for a safe haven. Spot gold was trading at a price per ounce of $1,244.36 mid morning Singapore time, slightly up from yesterday’s close of $1,242.02 when it […]
Gold has paused its rise at the 38% retracement and reversed short-term trend by breaking below the upward sloping trend line. The upward bounce from $1,180 is most probably over and a new downward move has started with target below $1,180. Longer-term trend remains bearish and so do we expect gold to fall towards $1,000. […]
Technical outlook and chart setups: Silver remains in the buy zone of immediate resistance line, while still in the sell zone of outer resistance line as seen here. The metal is seen to be trading around $17.15 levels for now and potential still remains to dip further into $16.90 levels before bouncing back. Support is […]
Technical outlook and chart setups: Gold is seen to be pulling back at the moment trading at $1,225.00 level. The metal had touched $1,237.00 level yesterday, and is now expected to retrace lower towards $1,205.00 level before resuming the rally. Immediate downside target for bears would be around $1,217.00/18.00 level, which is also Fibonacci 0.382 […]
Markets Stable as Dollar Returns Morning Report: 09.00 London • This morning, stock markets have negative bias, but are generally stable after heavy selling from Thursday. The dollar index has shifted back on to the offensive though pushing higher again after moving back above the moving average yesterday. It’s seems this dollar rally may still have […]
October 15, 2014 – Commodities News Gold Yesterday, Gold bounced off the $1,238/ounce again. The stock market halted the bearish movement but has yet to recover. Once traders begin re investing in stocks the price of the metal should drop again. Alternatively, if global concerns cause another sell-off of stocks, gold should break through $1,240/ounce. […]
Gold continued to decline for the second day in a row behind concerns that its recent rise to a four week high will deter investors from buying amidst the weakening of the euro against the dollar. Spot gold dropped by as much as 0.4% for a price per barrel of $1,227.79 and was trading mid […]
Overview In today’s H4 chart, we see that the metal is trading between the Support level of 17.30 and below the Resistance level of 17.50 after its failure to break the Resistance level yesterday. Silver has bounced from it to take a slightly downward move. Currently, it is testing the Support level of 17.30. Presently, […]
Overview : Since our last analysis, gold has been trading sideways around the price of 1,234.00. There is very low activity on the market and we are waiting for larger volume and price action. Our resistance level at the price of 1,234.00 is again on the test, which is a sign that buying at this […]
Overview : Since our last analysis, gold has been trading sideways around the price of 1,234.00. There is very low activity on the market and we are waiting for larger volume and price action. Our resistance level at the price of 1,234.00 is again on the test, which is a sign that buying at this […]
You may remember that after the 2008-2009 crash, many called into question traditional economic models. Why did they fail? And more importantly, will they warn us of a new approaching doomsday, should there be one? This series gives you a well-researched answer. Here is Part VI; come back soon for Part VII. Myth #6: “Wars […]
Gold price remains near its highs and near the 38% retracement. Price makes higher highs and higher lows as short-term trend remains bullish. However I feel that selling pressures will come back and push price to new lows again. I believe this upward bounce from the support at $1,180 is corrective in nature and that […]
Technical outlook and chart setups: Silver is trading just below the resistance level ($18.00 levels), around $17.50 for now. Please note that the metal is trading in the sell zone of outer resistance line and still needs to be pushed through $18.40/50 levels to instill further confidence into the bullish setups. It is recommended to […]
Technical outlook and chart setups: Gold has pushed through $1,234.00/35.00 levels for now, with $1,240.00 resistance just in sight. Furthermore, the metal has just entered into the buy zone of the sloping down trend line as well. It is expected that Gold could dip into $1,205.00 levels again before rallying further up. Hence recommendations are […]
October Sell-Off Continues Morning Report: 09.00 London • October continues to be a poor month for financial markets as the S&P 500 suffered heavy selling yesterday. Today, we’re seeing something of a rebound, but it’s barely covered half of yesterday’s losses. […]
