Traders knocked gold below $1,200 for the time being, as market participants determine whether or not the Federal Reserve will hike the Fed funds rate for the first time since 2006. The Fed is stringing along financial markets. Either the economy is strong and deserve a tightening of monetary policy, or it is not. The voting members of the FOMC still remain...
Looks to keep grinding up, at least for another 6 months in this rising wedge. You can't trade between silver and gold, but its certainly worth taking a look at the key support/resistance. On the break of this rising wedge, I might consider trading some of my physical gold bullion I've collected over the years for silver.
Platinum has been on a steady decline with slow demand. Platinum trades at a discount to gold, a condition that occurred last month. The spread between the two precious metals has tightened, but were at the widest in two years. Platinum, although grouped in with gold and silver as a precious metal, is typically lumped into the industrial group with palladium....
Market participants’ optimism has strengthened the pullback in gold. Gold prices are hanging by a thread. Technical support at $1,204 per toz. has held on but barely,as market participant optimism has strengthened the yellow metal’s decent. A close below $1,204, gold prices are likely to test lower support between $1,185 and $1,190 per toz. Gold has seen a large...
Historically, gold and the US dollar move inverse of each other. Time to abandon this preconception? The US dollar is going strong, but is it time to change the preconception that a strong US dollar is automatically bad for gold? Perhaps. The inverse relation has historically occurred, but in times of uncertainty, the inverse breaks and gold typically remains on...
(Originally posted yesterday with appropriate charts) Gold takes a breather, while negative data continues to pour in. Gold’s inability to close above $1,300 is a mild hit for bulls, but prices will likely consolidate prior to the next leg higher. Prices declined to $1,280 per toz., just above the descending trend line, now support. The likely scenario is that...
The market strives to close the gap To perform successful Trading the Gap strategy you have to follow close economic calendar and price movements on important economic events. It does not use any indicators and the trading signal occurs exclusively in the situation on the chart. Below we are going to look in details at the description, as well as the opportunities...
Gold is up 9 percent YTD. Gold is on a tear since I warned that negative price action was waning on January 6 (here). Gold has been able to overtake the $1,240 per toz. hump and chug along on global growth concerns. The IMF, just among the bunch, lowered the outlook for growth prospects; and the second largest economy – China – is pulling back, down to the...
Many financial instruments are either positively or negatively correlated and the price action of these instruments would reflect the recent strength in Dollar as represented by DXY Index. Due to almost vertical move in DXY since May 2014 low, has lead many to think that Dollar is so strong that it would just continue in parabolic rise without even normal...
On January 6, I noted how the price action technicals were beginning to favor gold (here). Since, gold has begun to rally with force on both a global growth slowdown and increasing market turmoil. Naysayers will continue to hate gold, but both fundamentals and technicals remain supportive. The surprising (maybe not so much) move by the Swiss National Bank to...
i will be interested to take longs on both Gold and Silver on the break of dotted trendlines on daily chart, i will watch the price action near this trendlines prior to the entry . Silver: Upper Chart Gold: Chart below
In my last Gold chart I published I gave 1100 zone or little lower as possible area where significant low would form. Then subsequently I updated with saying that I am reducing my downside expectation and would be willing see low form even above 1100. Please check these for background. Many of course would dismiss these comments as they maintain the view of...
Today the bullish chance will be happened on non-USD and precious metals, but the decrease of Australia’s trade deficit in November really inspired AUD, today we can focus on Call option of AUD. Here are some binary option trading advice in current market-available days. Gold Resistance:1210 1220 Support:1198 1190 Gold is bullish over 1193 and once it breaches...
Based on the daily chart below, I think a case can be made that support on the gold/silver ratio is at around 71. If the ratio reaches that level in early next year, it may run into the trendline shown on the chart as well, which may reinforce the market's view of that point as a support level. Of course, if the bottom is in for both gold and silver, trading the...
Gold has played out well on a technical basis. My previous analysis was rather spot on, as price action was leaning towards support at $1,133 from $1,170. Price found support and moved higher to resistance level one of $1,179 before profit taking today. Price action should remain within the descending channel, while a close below it will likely send gold quickly...
Anything is possible. Further reading: brunicharting.com
I'm not in this trade -- just long both metals in a long-term account -- but technically, I think we're seeing a topping of gold/silver, especially since silver appears to have found support. Learn more about trading: www.informedtrades.com
Bullish channel already break on gold, and triangle break down too at silver. Both direction is bearish