All Articles Tagged - gold

Technical Analysis – Gold preserves positive composure

Posted on May 11, 2020 at 6:57 am GMT

Gold is trading around the mid-Bollinger band at 1,707 after fading for nearly a month from the multi-year high of 1,746.95. The precious metal seems to be lacking direction as it plots lower highs and higher lows. Yet, the technical oscillators and the upward slopes in the simple moving averages (SMAs) appear to support a neutral-to-bullish picture for now. The MACD, has remained in the positive section but is below its red signal line, while the RSI continues to hover [..]

Daily Market Comment – German ultimatum sinks euro, yen capitalizes

Posted on May 6, 2020 at 8:29 am GMT

Euro crumbles after German courts challenge ECB stimulus Outlook still bleak, this is the last thing the fragile Eurozone needs Stocks trim gains on Fed gloom and Congressional ‘pause’, yen climbs Today: ADP data will give a taste of what’s on Friday’s NFP menu Euro falls apart as Germany challenges ECB The single currency came under heavy fire yesterday, after Germany’s top court ruled that the ECB’s asset purchases were unconstitutional. The judges gave the European Central Bank three months [..]

Technical Analysis – Gold struggles in symmetrical triangle; neutrality holds

Posted on May 6, 2020 at 7:15 am GMT

Gold prices are heading sideways in a symmetrical triangle formation, hovering near the short-term simple moving averages (SMAs) and within the squeezed Bollinger bands. The market could remain in consolidation if the RSI keeps moving around 50 and the MACD stays around the zero line with weak momentum in the 4-hour chart. An extension to the upside and above the descending line of the triangle, which overlaps with the upper Bollinger band could meet the 1,722 area. Further up, resistance [..]

Technical Analysis – Gold appears to be gaining confidence

Posted on May 4, 2020 at 6:45 am GMT

Gold is currently resting at the mid-Bollinger band around 1,700 while still confined between the boundaries of 1,660 and 1,739. The short-term oscillators further reflect a neutral-to-bullish bias, while the rising simple moving averages (SMAs) continue to be positively charged suggesting further advances to come. The MACD and the RSI display the pause in the market. The MACD, deep in the positive region, has dipped below its red trigger line but appears to be flattening, while the RSI, bouncing near [..]

Daily Market Comment – Trump reignites China feud; Stocks fall on data, ECB and earnings blows

Posted on May 1, 2020 at 8:49 am GMT

Markets go into risk averse mood as Trump threatens China with new tariffs Dire data, ECB inaction and mixed earnings further dent risk sentiment Liquidity thin due to May Day holiday; ISM manufacturing PMI coming up Trump’s tough on China rhetoric is back, spooks markets US President Donald Trump raised the prospect of fresh tariffs on China on Thursday as his administration seeks ways to retaliate against China’s handling of the COVID-19 outbreak. The virus has cost more than 60,000 [..]

Daily Market Comment – Stocks jump on virus drug hopes; Fed’s blank cheque pressures dollar

Posted on April 30, 2020 at 8:21 am GMT

Global stocks extend gains on potential treatment for coronavirus and dovish Fed But Trump’s China blame-game caps gains Powell signals more stimulus may be needed, puts dollar on backfoot ECB next on the agenda; will it pump more stimulus? Remdesivir boosts stocks again despite question marks Positive results from two clinical trials on the effectiveness of Gilead’s remdesivir drug once again raised hopes that the deadly coronavirus that has plunged the global economy into its worst crisis can be defeated. [..]

Technical Analysis – Gold consolidates below multi-year top

Posted on April 29, 2020 at 6:37 am GMT

Gold’s recent footing on the 100-period simple moving average (SMA) has kept the precious metal above the Ichimoku cloud and has returned it slightly above the 50-period SMA. Yet, the commodity’s two-week sideways move endures, unable to break out of the 1,739 and 1,660 boundaries. Further displaying the creeping horizontal mode are the unclear signals from the Ichimoku lines in the 4-hour chart. Looking to the short-term oscillators, they too paint a picture of evaporated directional momentum. The MACD is [..]

Technical Analysis – Gold hovers near 7½-year peak; still positive

Posted on April 27, 2020 at 6:59 am GMT

Gold prices successfully surpassed the previous high of the 1,703 strong barrier, confirming the upside tendency in the short- and medium-term timeframes. The yellow metal challenged a new fresh seven-and-a-half-year high of 1,746.95 on April 14 and is currently hovering slightly below this level. The momentum indicators are failing to improve the positive picture on price action. The MACD oscillator slipped beneath the trigger line and is losing some ground, while the RSI is pointing marginally to the downside in [..]

Technical Analysis – Gold’s positive sentiment picks up; eyes multi-year top

Posted on April 23, 2020 at 12:04 pm GMT

Gold’s new-found confidence today broke above the Ichimoku cloud confirming the bounce off the lower band of the cloud and the 100-period simple moving average (SMA). Boosting this climb is the bullish crossover within the Ichimoku lines and the upward slopes of the SMAs. Moreover, the short-term oscillators suggest further gains for now, with the MACD increasing above zero and its red trigger line and the RSI nearing the 70 level. Additionally, the stochastics are in the overbought territory, holding [..]

Daily Market Comment – Trump threatens war with Iran, lifts oil

Posted on April 23, 2020 at 8:33 am GMT

Trump turns up the aggression with Iran, oil likes it But unlikely that this is a sustainable rebound Euro suffers after terrifying PMIs, awaits EU leaders meeting Stocks recover, yet safe havens thrive too Oil prices recover as Trump rattles sabers with Iran All the troubles in the oil market were magically resolved by a single tweet from the US President yesterday, who said that he instructed the US Navy to destroy any Iranian gunboats harassing American ships at sea. [..]

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