Overview: Since our last analysis, Gold has been trading sideways, around the level of 1,335.00 on ultra high volume (buying climax), and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign that Gold […]
Gold short-term trend remains upward. Short-term support is found at 1,328 and at 1,310. Short term resistance is found at 1,343 and 1,375. As long as prices do not make a new high above 1,343, then blue wave count is most possible one. If prices make a new higher high, then red wave count is […]
Aussie rallies as China proxy Morning Report: 08.45 London • China continues to exert a powerful influence on the global stage, not least the Australian and New Zealand dollars which are increasingly becoming a proxy for Chinese economic prospects. With its mining boom (and slowdown) linked to the state of the Chinese economy, the Aussie […]
Technical outlook and chart setups: Perhaps, Gold needs to retrace now. As depicted here, the levels of interest are 1,300-1,285. It is recommended to initiate long positions around 1,285.00, which is confluence of the following: 1. Fibonacci 0.618 support, retracement level. 2. Backside of the resistance line, which provides support now. 3. A possible right […]
Overview Based on the H4 chart above, silver is still stabilizing above the the Support 22.50 after its rebound from the Resistance level 22.80 yesterday. If silver continues its bearish move and manages to break the Support level 22.50 after closing below the upward trend line, it will produce a strong indicator for the […]
Weekly chart Yesterday crude oil continued slipping below $100 per barrel after the previous day’s data showed that oil supplies increased last week. The American Petroleum Institute reported an increase of 3 million barrels for the week ended October 18, 2013. Technically, the weekly chart shows Crude Oil is below line 8/8 and is […]
Overview: Since our last analysis, Gold has been trading sideways, the price tested the level of 1,343.00 on ultra high volume (buying climax), and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign […]
Gold continues to make higher highs and higher lows after bottoming at 1,250. The current price action confirms that the trend is upward. Below we post our two most possible short-term wave counts. The red alternative count is the more bullish one. Breaking above 1,343 will put the alternative as our first choice. Our current […]
Markets slip after NFP melt up Morning Report: 08.45 London • Yesterday, there were a few puzzled faces as markets ‘melted’ up on disappointing Non Farm Payrolls. This morning reality has crept in with markets on the back foot, a move further fuelled by China concerns. • The Antipodean currencies of the Australian and New […]
Markets slip after NFP melt up Morning Report: 08.45 London • Yesterday, there were a few puzzled faces as markets ‘melted’ up on disappointing Non Farm Payrolls. This morning reality has crept in with markets on the back foot, a move further fuelled by China concerns. • The Antipodean currencies of the Australian and New […]
Technical outlook and chart setups: The metal has rallied the past resistance at 1,330.00 clearly. It is recommended to exit short positions for now since the rally could extend straight from current levels towards 1,400.00 and higher. Best trade strategy would be to go long on dips from here on. Fibonacci retracement levels are pointing […]
Overview From today’s H4 chart, the metal took an upward move yesterday after its rebound from the upward trend line breaking the Resistance level 22.00. But rapidly silver hits the Resistance area 22.50-22.80 which is tested now. Currently silver is trying to break it through to continue its bullish move. In this case we might […]
Daily chart Crude Oil fell below $100 during the first trading day this week, breaking the support area which was bounded by the line 0/8 (solid line) considered last stand area. So far today, Tuesday the price continued to fall, however we have no support at the 98.44 area which possibly retract the topside because […]
Overview: Since our last analysis, Gold has been trading sideways, the price tested the level of 1,313.00 on high volume, and it may end small bullish corrective phase as we expected. In the daily chart, we can observe buying climax bar on volume just above the average, which is a sign that Gold may start […]
Gold continues yesterday’s consolidation. Gold is trading within a price range and the boundaries are clearly defined. If a breakout occurs to the upside or downside, there is high probability that a small trend will start. The lower support level is at 1,311-12 and the upper resistance level is at 1,324-25. If prices break the […]
Markets quiet ahead of delayed Non Farm payrolls Morning Report: 08.45 London • Stock market futures are as dead as a dodo this morning as markets await the release of October’s delayed US Non Farm Payrolls. The dollar index is unchanged since gapping higher slightly this morning. • The yen pairs are leading the […]
Technical outlook and chart setups: The metal is poised to pullback towards the 1,280-1,300 levels from here on. It is recommended to remain short, as for the aggressive trading strategy, but to turn bullish between the 1,280/1,285 levels if they are reached within coming sessions. Support levels are 1,210.00, followed by 1180.00; while resistance levels […]
Daily chart It seemed that the Light Crude Oil (CL) had found support around $100. It has lost 1.25% and 1.24% so far this Monday, and so the picture is likely that the next target is at 0.9844 which houses overrun line end -1/8 and have a bearish outlook for the next few days. Apparently, […]
Overview As it was expected last week, Silver would take an upward move after its rebound from the upward trendline. Currently, it is testing the resistance area around the upward trendline and the resistance level of 22.00, trying to break it through to continue its bullish move. More buy signals would be provided in […]
Overview: Since our last analysis, Gold has been trading sideways, the price tested the level of 1,314.00 on high volume, and it may end small bullish corrective phase as we expected. In the daily chart, we can observe buying climax bar on volume just above the average, which is a sign that Gold may start […]
Gold prices remain near their recent highs at 1,327. The upward move from 1,250 looks impulsive, and we may need one more new high to complete the 5 waves up from the lows. Short-term support is found at 1,318 and short-term resistance is found at 1,333. If prices reach the resistance, then this could be […]
Yen weak on wade trade deficit Morning Report: 08.45 London • This morning, the Japanese yen is weak after the trade balance unexpectedly widened, marking the 15th straight month of deficits. • The British pound is performing relatively well, with the GBP/JPY up 0.34%. • The New Zealand dollar is weak this […]
Technical outlook and chart setups: The metal rallied as expected last week towards the 1,320.00 levels. As depicted here, the falling line of resistance has been broken during this rally from 1,250 to 1,320 recently. An aggressive short trade setup was recommended on Friday, keeping in view a possible retracement towards the 1,280/1,300 region, before […]
Daily Chart The Light Crude Oil prices were going down during yesterday’s session after the data from an industry group showed a bigger than expected jump in crude oil reserves. Crude oil also fell after the talks in Geneva between the international community and Iran over the latter’s nuclear program showed some progress. Thus, we […]
Overview: Since our last analysis, Gold has been trading sideways, the price tested the level of 1,325.00 on high volume, and it may end small bullish corrective phase as like we expected. On the daily chart, we can observe buying climax bar on volume just above the average, which is a sign that Gold may […]
Gold has finished 5 waves up from the lows at 1,251, and we expect a pull back to reach 1,300-1,290. This will probably be a buy opportunity, before the next leg up we anticipate towards 1,350. The short-term downward sloping trendline was broken and we should expect a back test. Prices have support at 1,300 […]
Dollar slips further despite China warnings Morning Report: 08.45 London • This morning, the dollar is extending recent losses, with stock markets making further gains despite mixed messages on the Chinese economy. • The yen pairs are generally performing well after S&P affirmed Japan’s AA – credit rating. […]
Overview In today’s H4 chart, the metal is still trading below the resistance level of 22.00 keeping its move above the upward trendline, and currently silver is testing the resistance level to continue its bullish movement. So we should wait for closing above this resistance area to create a new bearish opportunities. In that […]
Technical outlook and chart setups: The metal has rallied to the 1,310/20 levels as expected. It is quite possible that this rally extends to the 1,350/60 levels but after a retracement/pullback. It is, therefore, recommended to exit long positions taken earlier. Resistance levels are lined up from the 1,330.00 levels, followed by 1,350.00, 1,375.00 and […]
Monthly Chart On the monthly chart we can see that crude oil is trying to find a major support at the level of $100.00 which corresponds to the line 4/8 d Murray. This line is considered to be a strong area of support and resistance. So since the price is still above that level and […]
