All Articles Tagged - gold

Technical Analysis – Gold supported by 100-day MA

Posted on May 2, 2014 at 7:15 am GMT

Gold prices have fallen for the past 4 consecutive days and the negative RSI adds to bearishness. The stochastic is falling and has room to reach oversold levels. For now prices have found strong support from the 100-day moving average. The market is at a critical point as it lies just below the 50% Fibonacci retracement level of the upleg from December 31 low (1182.16) to the March 17 high (1392.07). Key US nonfarm payrolls data due later today will [..]

Technical Analysis – Gold back below 1300

Posted on April 22, 2014 at 3:08 pm GMT

Gold fell back below the key 1300 level and has reversed most of the recent rally that took it to a high of 1330.91 on April14. Gold is currently broke below its 50 and 200-day moving averages and found support just above 1281 at the 50% correction of the upleg from 1182.16 (December 31 low to 1392.07 (March 17 high). Next support is at 1262.39 (61.8% Fibonacci) and below this at 1227.11 (61.8% Fibonacci). To the upside the 1300 psychological [..]

Technical Analysis – Gold hits 2-week high

Posted on April 10, 2014 at 7:22 am GMT

Gold rose for a third day to reach a new 2-week high of 1318.74. After retracing about 50% of the rally from 1182.16 (December 31 low) to 1392.07 (March 17), the market bounced to the 38.2% Fibonacci level. The outlook for gold is bullish since the market is above the 100 and 200-day moving averages. The 50-day moving average crossed above the other two averages, which is a bullish signal. RSI has risen above 50. However, the market is likely [..]

Technical Analysis – Gold pauses decline at 100DMA

Posted on April 3, 2014 at 7:21 am GMT

Gold prices have paused their decline after reaching oversold levels and have rebounded back above the 50% Fibonacci retracement level of the move from the December 31 low (1182.16) to the March 17 high (1392.07). The recent downtrend appears to have stalled just above the 100-day moving average and prices rebounded from a low of 1277.53. Technical indicators are showing some reversal signs, such as the stochastic which has left extremes and rose above 20 out of oversold territory. RSI [..]

Technical Analysis – Gold neutral in near-term

Posted on March 26, 2014 at 8:09 am GMT

In the long term picture, the long term up trend in gold has likely reversed. Gold has declined over 38% from the all-time-high of 1920.80 on 4th September 2011 to a low of 1180.11 in June 2013. The market is below the 100 and 200-week moving averages, which is a bearish sign. Since the June 2013 trough, prices have been trading sideways between 1433.51 and 1180.11. The market is likely correcting. The near-term outlook is neutral and there are no [..]

Technical Analysis – G old rallies to 6-month high

Posted on March 12, 2014 at 8:03 am GMT

Prices for the precious metal made a strong rebound in the past two days, gaining more than $30 to reach a new 6-month high. Prices bounced off key support at 1327.94 on March 10 and moved higher by breaking two key resistance levels at 1337.11 (61.8% Fibonacci of August 25 – December 29) and 1354.63 (March 3 high) before testing 1361.60 (October 28 high). An analysis of the 4-hour chart showed the bullish trend remains intact as shown by the [..]

Technical Analysis – Gold bullish above 1300

Posted on February 24, 2014 at 8:56 am GMT

Bullish sentiment on gold has returned after prices crossed back above the key 1300 level on February 14. The market remains above the 200-day moving average which is acting as an important support level around the 50% Fibonacci retracement level (1307.40) of the move from the August high (1433.51) down to the December low (1182.16). Should the current support level fail (1307.40), further support comes in at the 38.2% Fibonacci level at 1277.93 and then the 23.6% level at 1240.88. [..]

Technical Analysis – Gold looking bullish in rising channel

Posted on February 12, 2014 at 9:11 am GMT

Gold is looking bullish and has formed a rising channel. The market appears to have carved out a base at the December 31 low of 1182.16. The daily chart indicates there has been a relatively strong upside momentum since the bounce off this low. A catalyst for the upside-move occurred when prices broke above the 100-day moving average which was acting as a resistance level around 1270. This area was also the 50% Fibonacci retracement level of the down-leg from [..]

Technical Analysis – Gold attempting to bounce higher

Posted on February 6, 2014 at 9:10 am GMT

Gold prices began a rebound from the end of January to rise to a high of 1274.09 on February 5. Gold has since corrected this up-leg by 61.8% and is currently capped just below the 38.2% Fibonacci retracement level at 1260.20. Key support is at the 61.8% Fibonacci level of 1251.90. The 100-period moving average is also providing key support on the 4-hour chart. The 50% retracement level has proven to be a key turning point, from which prices have [..]

Technical Analysis – Gold, Daily: rebounding from the near 3 ½ low but upside maybe capped at 1268

Posted on January 21, 2014 at 10:13 am GMT

[caption id="attachment_12779" align="alignnone" width="550"] (click to enlarge)[/caption] Following a brush with the near 3 ½ year low of 1180 dollars an ounce in December last year, gold has turned higher. The rally in gold during the new year has taken the price of the yellow metal from around the 1200 level to about 1250. If gold turns down once more, the 1180 level will be the key one to watch in order for the downtrend to resume. The short-term trend [..]

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