gold

Technical Analysis – Gold sustains bullish tone despite crawling sideways

Posted on September 7, 2020 at 8:15 am GMT

Gold is currently extending a sideways pattern above the simple moving averages (SMAs) and the 1,900 psychological number. Directional momentum has dried up as displayed by the steadied Ichimoku lines. Nonetheless, the rising SMAs continue to dictate a predominant bullish bias. The short-term oscillators reflect a relatively paused picture under a restrictive diagonal line drawn from the all-time high. The MACD has remained somewhat in the positive region but beneath its red signal line, while the RSI hovers marginally underneath [..]

Technical Analysis – Gold edges sideways; negative pressures dwindle

Posted on September 2, 2020 at 9:22 am GMT

Gold has bounced on the Ichimoku cloud’s upper surface, while the simple moving averages (SMAs) converge slightly beneath. The recent weakness from the 1,992 barrier appears to be receding as the Ichimoku lines stabilise. Nonetheless, the SMAs and the Ichimoku cloud continue to dictate a neutral demeanour that has grasped the commodity for the last two weeks. The oscillators suggest mixed signals of directional momentum. The MACD is weakening in the positive region, slipping below its red signal line. Yet, [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 11:06 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sunk to a fresh [..]

Technical Analysis – Gold capped by SMA but retains bullish outlook

Posted on August 31, 2020 at 7:05 am GMT

Gold prices have been capped by the 20-day simple moving average (SMA) but have found strong support at the 1,900 psychological level. The sideways move over the last week is confirmed by the RSI indicator, which is flattening near the neutral threshold of 50, while the red Tenkan-sen and the blue Kijun-sen lines are moving horizontally as well. However, the MACD oscillator is trying to strengthen its momentum below its trigger line and above the zero level. A successful jump [..]

Daily Market Comment – Dollar edges up, stocks struggle after yields spike higher

Posted on August 26, 2020 at 8:52 am GMT

Market mood turns cautious amid mixed signs on the global economy Bond yields extend gains as inflation expectations rise But big drop in US consumer confidence casts doubt on recovery Stocks softer, dollar crawls higher ahead of Jackson Hole Yields creep higher: sign of economic health or trouble? Risk appetite appeared to falter on Wednesday as higher long-term borrowing costs weighed on equities, while unexpected weakness in US consumer confidence supported the safe-haven dollar and yen in currency markets. Stocks [..]

Technical Analysis – Gold lacks clear direction after meeting all-time high

Posted on August 26, 2020 at 8:33 am GMT

Gold prices have been in a declining direction after strong rally towards the all-time peak of 2,074.89, but they found strong support at the 1,911 barrier over the last two weeks. The price is trading below the simple moving averages (SMAs) and the Ichimoku in the 4-hour chart. Furthermore, the RSI is heading south in the bearish territory, however, the MACD is moving horizontally below the zero line. A strong push below the 1,911 support would drive the bears towards [..]

Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

Technical Analysis – Gold consolidates above 1,900, eyeing peaks again

Posted on August 24, 2020 at 10:08 am GMT

Gold is edging sideways above the 1,900 handle, possibly forming a triangle pattern with the price targeting the upper bound of the triangle around 1,970. The bullish simple moving averages (SMAs) are maintaining a broader positive tone, while the short-term oscillators are helping keep the positive outlook alive. The MACD is holding in the positive region although below its red signal line, while the RSI floats above the 50 threshold, looking to improve. Furthermore, the negative momentum in the stochastic [..]

Technical Analysis – Gold resumes ascent, steering above the Ichimoku cloud

Posted on August 19, 2020 at 12:35 pm GMT

Gold has nudged back above the Ichimoku cloud and over the simple moving averages (SMAs) after a bounce off the 200-period SMA, around 1,863, resetting the upward action. The precious metal has recouped a decent amount of the losses from the all-time high of 2,074.89 to 1,863 low, and continues to be aided by the now bullish Ichimoku lines. The commodity’s positive sentiment appears restored above the cloud, despite the fresh bearish crossover of the 100-period SMA by the [..]

Technical Analysis – Gold recoups some losses after rebound on 1,860

Posted on August 17, 2020 at 7:42 am GMT

Gold prices are returning slightly higher after the aggressive selling interest from the all-time high of 2,074.89 achieved on August 7. The price found immediate resistance at the 20-day simple moving average (SMA), while the technical indicators seem to be mixed. The MACD oscillator is falling well below the trigger line, though the RSI is pointing marginally up near the neutral threshold of 50. If the price recoups some of the losses and jumps above the flat red Tenkan-sen line, [..]

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