All Articles Tagged - gold

Technical Analysis – Gold struggles below 1200

Posted on November 25, 2014 at 8:21 am GMT

Gold prices are consolidating around the critical 1200 level. Strong resistance is at the 61.8% retracement level of the downleg from 1255.07 to 1131.65 at 1207.71. To the downside there is immediate support at 1193.26, which is the 50% retracement level. On the daily chart the overall trend is down as prices have been falling from the September 2012 high of 1795.73 to the November 2014 low of 1131.65. A break of this low would accelerate the downtrend to target [..]

Technical Analysis – Gold at 4 ½ -year low; bearish tone continues

Posted on November 14, 2014 at 9:24 am GMT

On November 7, gold registered a 4 ½ -year low around the 1130 dollars per ounce level; its lowest since April of 2010. It has since rebounded to 1173 but only to come back down to 1152. Gold’s rapid decline from its 6-month high of 1345 in July was accompanied by broad strength in the US dollar – one of the key factors that determines the price of gold. Currently the RSI is bearish but not at oversold levels at [..]

Technical Analysis – Gold, Daily: Recovery off lows on safe-haven demand but still bearish

Posted on October 17, 2014 at 8:35 am GMT

Gold has recently rallied off a low around 1182, which was the lowest since late December of 2013 but also a 4-year low. Gold was also helped by a wave of risk aversion, as there was intense selling pressure on risk assets, which in turn made investors favor safe-haven assets such as government bonds and gold. Overall, there are some encouraging short-term indications after gold’s run-up from the 1190 area up to 1240. The RSI has turned slightly bullish at [..]

Technical Analysis – Gold tests key 1200 level

Posted on October 7, 2014 at 6:33 am GMT

Gold broke below the important 1200 level on Friday and prices are close to key support at 1180. The underlying downtrend is bearish. The market is below the 200-day moving average. Also highlighting the bearish structure is a bearish cross of the 50-day and 100-day moving averages below the 200-day moving average. Momentum indicators are bearish. A break below 1180 will accelerate losses to 1155 area of the 61.8% Fibonacci retracement level of the upleg from October 2008 low (681) [..]

Technical Analysis – Gold, Daily – consolidating after sharp rally

Posted on June 30, 2014 at 9:10 am GMT

[caption id="attachment_17915" align="alignnone" width="555"] (Click to enlarge)[/caption] Gold has been one of the best performing assets of 2014 since it has rallied strongly from the 1185 low it made at the end of December 2013. Following a test of the 1240 area in late May / early June, gold managed to rally up to 1325, but it failed to break the 4-month high of 1330. The 1325-1330 area remains an important resistance point that needs to be overcome for a [..]

Asian Session – Dollar still under pressure despite positive data

Posted on June 20, 2014 at 6:42 am GMT

The dollar was attempting to stabilize from the post-Fed meeting selloff as the negative momentum weakened. The euro traded up to 1.3626 against the greenback, while dollar / yen dipped slightly to 101.89. The euro continued to advance against the yen at 138.79 while the Australian dollar was drawn back towards the 94 cent level against its US counterpart. The big question of course is whether the FX market will continue to sell the US dollar or whether for the [..]

Asian Session – Geopolitical concerns drive yen, oil and gold higher

Posted on June 16, 2014 at 6:46 am GMT

Higher geopolitical risk was a worry for markets following the weekend, as investors unloaded some equities and fled to the safety of the yen. The yen pushed the euro under the key 138 level to 137.85, while the dollar was also pushed below the 102 level to trade at 101.76. The euro firmed slightly against the dollar at 1.3546 as traders awaited the final Eurozone inflation estimate for May later in the day. In Iraq, forces of the Sunni Islamic [..]

Technical Analysis – Gold in bearish trend

Posted on May 30, 2014 at 9:04 am GMT

Gold’s bearish trend is in place after having broken below three moving averages (50,100,200) on the daily chart. The 100dma has crossed below the 200dma, known as a death cross and this is a strong bearish signal. Prices have also broken below the 61.8% Fibonacci retracement level of the upleg from 1182.16 (December 31 low) to 1392.07 (March 17 high). Highlighting the bearish outlook are the negative technical indicators – RSI and stochastic. Further downside will target the 78.6% Fibonacci [..]

Asian Session – Dollar and stocks helped by data; gold crashes

Posted on May 28, 2014 at 6:35 am GMT

Major currency pairs remained in narrow ranges for most of the Asian session on the absence of significant news and developments. The US dollar managed to keep the gains it made from the previous sessions as better-than-expected data helped the greenback. The euro was trading around 1.3630 – inside its latest 1.3611-1.3665 range, but the dollar was unable to break higher against the Japanese yen, with the 102 level presenting some resistance. The pound was under pressure as there were [..]

Technical Analysis – Gold, Daily, consolidation with downside risk under 1276

Posted on May 8, 2014 at 6:35 am GMT

[caption id="attachment_16411" align="alignnone" width="570"] (Click to enlarge)[/caption] Following a strong up move so far this year that peaked on March 17, gold has retraced 50% of the 200+ dollar move from 1187 to 1392. Since the end of March it has been hovering around this 50% retracement level of 1290, with both attempts to break and stay above the psychologically important 1300 level failing – one at 1331 and another at 1315. 1315 and 1331 are two resistance levels – [..]

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