The Gold price has broken short-term support levels and is now trading just above $1,320. Critical support is found at $1,315-$1,320. Breaking below that area will put $1,307 low to the test. Ichimoku cloud support is found at $1,315-$1,320. The upward sloping trend line support is held for now. The blue horizontal trend line support […]
Technical outlook and chart setups: 1. Silver is trading at the $21.40 levels for now. It is expected to correct itself at least towards $20.00 and $19.75 levels before rallying further up. Recommendations are to remain flat for now and look to go long around the fibonacci support level as depicted here. 2. Support is […]
Technical outlook and chart setups: 1. Gold is stalling out around the $1,340.00 levels for now as seen here. A push higher towards $1,356.00 levels is still a possibility, though. It is recommended to buy on dips from here on. The expected levels of correction are between $1,280.00/90.00. 2. Support is seen at $1,280.00 (fibonacci), […]
GOLD: With the commodity closing higher the past week, there is risk of further strength towards the 1,345.90 level with a cut through here extending gains towards the 1,360.30 level. A violation will aim at the 1,380.00 level. A break will aim at the 1,359.00 level and then the 1,400.00. We expect the bears to […]
Overview Based on the H4 chart above, silver stabilized below the Resistance level of 21.50 after hitting it yesterday then bouncing from it to take a slightly downward move as shown. If silver continues its bearish move and manages to break the Support level of 21.20, this will produce a strong indicator for the downward […]
Overview: Since our last analysis, gold has been trading sideways. We are facing a quiet day and flat Gold around the price of 1,336.00. According to the daily timeframe, we can observe demand in a volume above the average, which is good sign for potential bullish movement. I have placed Fibonacci expansion levels to find […]
July 11, 2014 – Commodities News Hot Asset For Today: Gold Pride of yellow metal jumped to its 3 1/2 month high when reaching $1,345/ounce. The price was spurred by very negative mood on stock market where the world indices erased around 2%. Gold is ranging today as traders juggle recent worse than expected data […]
The US benchmark West Texas Intermediate (WTI) headed for a third weekly drop as Libya boosted its oil export and gasoline stockpiles expanded in the US, the world’s biggest oil consumer. The violence in Iraq, the OPEC’s second largest member, hasn’t extended towards the southern region of the country, the home to three-quarters of its […]
The gold price made a breakout yesterday. In yesterday’s analysis, I gave all the reasons why it was more probable to see a break higher than a downward move. The price was above the Ichimoku cloud and trend line support, while the crucial support levels at $1,310-15 were tested and not broken. A short-term trend […]
Technical outlook and chart setups: 1. Gold prints highs at sub $1,340.00 levels and pulls back. The metal could possibly push towards $1,356.00 levels before producing a meaningful pullback lower towards $1,280.00/85.00 levels. Recommendations are to remain flat for now, looking to buy lower. 2. Support is at $1,310.00, followed by $1,260.00, $1,230.00/10.00 and lower […]
Euro Shrugs Off BES Concerns Morning Report: 08.45 London • Markets are sleeping this morning as the market heavyweights eye their summer holidays in the Hamptons. The S&P 500 is making a small recovery after yesterday’s volatility, but movement across the board is slight. […]
Global market participants have been flocking to gold, at a time when many have grown more interested in the safe haven appeal of the precious metal. GLD assets rise The recent inflows into SPDR Gold Trust, the metal’s biggest exchange-traded product, illustrate this interest, according to Bloomberg. This fund, which trades under the ticker symbol […]
Oil prices dropped to their lowest value in three weeks on July 7. This decline happened as global market participants involved in crude oil trading received the latest news about the supply-demand fundamentals for the raw material. Individuals who want to invest in this commodity might benefit from staying abreast of these key developments so […]
The ongoing conflict in Iraq has been grabbing headlines for weeks now, and seems to have driven up oil prices considerably, despite the fact that for the most part, the nation’s production hasn’t been all that disrupted by the unrest. Now, experts are starting to see a turnaround in prices as a consequence. The terrorist […]
Overview As it was expected, the metal took an upward move in case of closing above the resistance level of 21.20. Today, as it is shown in the H4 chart, the metal took a slightly upward move after breaking the Resistance area and it managed to close 4H above it. Currently, it is approaching the […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of 1,344.91 in an ultra high volume (buying climax) according to the 4H timeframe. Bullish movement is a result of very weak supply for 2 days. According to the daily timeframe, we can observe average demand. I have placed Fibonacci […]
Technical outlook and chart setups: 1. Gold has broken out above the $1,330.00 levels as seen here. The metal could possibly reach $1,356.00 before a meaningful correction could take place. The current rally from the $1,240.00 levels, has confirmed that Gold might have formed a meaningful low at the $1,240.00 levels. So, buying on dips […]
July 10, 2014 – Commodities News Hot Asset For Today: Gold Gold has been steadily climbing since the FOMC meeting minutes as traders flee the dollar in search of save haven assets. Even now, the precious metal is moving upward for the most part as the bullish sentiment has not quite evaporated yet. Keep in […]
The gold price is testing important resistance levels. The gold price is near $1,330. So, bulls will need to show signs of strength now and break above resistance at $1,334. If bulls do not manage to break resistance and the gold price gets another rejection, we should expect prices to pull back towards $1,310 at […]
Aussie Catches China’s Cold Morning Report: 08.45 London • Markets are once again under selling pressure after Chinese trade balance data came in well below estimates. • This is hitting the Australian dollar hardest, with the AUD/JPY down 0.53% and the AUD/USD off by 0.39%. […]
Overview As shown in today’s H4 chart, the metal failed to break the Support level of 20.90 yesterday and is still trading above the support and below the Resistance level of 21.20. Currently, it is bouncing from the support level and starting the bullish move. So, we still suggest waiting for closing above the resistance […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of 1,326.25 in a volume above average according to the 4H timeframe. Bullish movement is a result of very weak supply from yesterday. According to the daily timeframe, we can observe very weak supply with a volume below average in […]
The gold price remains in a neutral sideways trend. Neither support nor resistance was broken yesterday and we continue to wait for the next big move. The $1,340-50 area remains the upside potential. The downward potential is $1,290-$1,250. The price continues to trade between these levels. The trend is neutral. As long as the price […]
July 9, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold started to move higher during Tuesday’s European session and reached the price around $1,324/ounce. However, the price fell sharply as the U.S. Job Opening showed that the U.S. labour market has remained strong and rumours about fragile condition on the […]
Technical outlook and chart setups: 1. Gold continues to trade in a tight range between $1,308.00/10.00 and $1,330.00 as seen here. Possibilities remain that the metal may push further up to $1,356.00 levels before correcting itself. Recommendations are to exit short positions. 2. Support is seen at $1,260.00, followed by $1,240.00/30.00, $1,210.00 and lower while […]
Markets Cautious As China Slips Morning Report: 08.45 London • This morning, financial markets are on the back foot after heavy selling yesterday. This morning’s pressure comes after Chinese inflation landed below expectations. […]
The year 2014 is proving to be a surprise for gold as it continues to attract investors despite the gloomy predictions of major investment firms. With holdings in the largest bullion backed exchange traded product, the SPDR Gold Trust, increasing by 0.3% so far, it has already offset the losses the metal has had this […]
Overview From the today’s H4 chart, silver is still stabilizing above the Support level of 20.90 and could not break it. Currently, it is bouncing from that level towards the Resistance level of 21.20. So, we still suggest waiting for closing above the Resistance level in case of bouncing from the Support level of 20.90. […]
Overview: Since our last analysis, gold has been trading sideways. We are facing a quiet day and very flat Gold around the price of 1,322.00. According to the daily timeframe, we can observe very weak supply with a volume below average, which is a sign that selling loosing power. Buying Gold still looks unsafe. So, […]
Technical outlook and chart setups: 1. Silver is pushing higher to test recent tops printed around $21.20 levels. A failure to break higher would encourage bears to take control and push the metal lower into the $20.00’s and $19.50’s respectively. 2. Support is seen at $20.00, followed by $19.50/60, $18.60 and lower while resistance is […]
