All Articles Tagged - gold

Daily Market Comment – Euro pinned near 20-year low as recession worries mount but stocks inch up

Posted on July 6, 2022 at 9:17 am GMT

Euro languishes near two-decade low, dollar stands tall amid heightened recession angst Stocks show sign of life, oil edges higher but copper slips to new lows Fresh political storm adds to pound’s woes as Johnson’s future in doubt 2Y/10Y yield curve inverts ahead of Fed minutes Euro hammered by energy crisis Market sentiment remained mired in recession anxiety as the latest spike in natural gas prices fuelled concerns that the energy crisis will drag Europe into a major economic slump. [..]

Technical Analysis – Gold raises a bullish flag, but how strong are the bulls?

Posted on July 4, 2022 at 7:29 am GMT

Gold optimism started to shine again after the creation of a bullish hammer candlestick on Friday, which succeeded the sharp bounce on May’s bottom of $1,786/ounce. The price is currently pushing for a higher close slightly above the $1,810 level, trying to confirm the green bullish candlestick formation. Yet, some caution is still required given the negative trend in the RSI and the MACD, which keep hovering within the bearish area. More importantly, the market is setting up a death cross between the 50- [..]

Daily Market Comment – Yen enjoys some relief as oil prices cool off

Posted on July 1, 2022 at 8:38 am GMT

Yen bounces back as growth concerns pressure crude oil and yields New quarter but investors still defensive – stocks, aussie, kiwi down Striking part is that gold cannot capitalize, hits six-week low instead Yen reprieve The new quarter has not changed much in global markets. Growth concerns are still the name of the game, keeping riskier assets under heavy pressure and pushing market participants towards defensive plays. Stock markets are a sea of red in every region, trade-sensitive currencies such [..]

Technical Analysis – Gold storms to fresh lows as negative momentum strengthens

Posted on June 29, 2022 at 11:52 am GMT

Gold has been in a sustained downtrend after it failed to cross beyond the 1,857 region. Moreover, in the past few four-hour sessions, the price has dived beneath both 50- and 200-period simple moving averages (SMAs) and is currently battling with its lower Bollinger band, painting a gloomy short-term technical picture for bullion. The momentum indicators are endorsing a bearish near-term bias. Specifically, the stochastic oscillator is descending in the oversold zone, while the MACD histogram is currently below both [..]

Technical Analysis – Gold finds resistance around the 200-day SMA within upward sloping channel

Posted on June 27, 2022 at 6:50 am GMT

Gold have developing slightly higher over the last five weeks, holding within an upwardly sloping channel. The price opened with a positive gap earlier in the day, remaining marginally below the 200-day simple moving average (SMA), while the RSI and the MACD provide little direction about the next move in the price as the former is heading up below its 50 neutral mark and the latter remains stable within the negative territory. If buyers break through the 1,857 barrier and the 50-day [..]

Technical Analysis – Gold marks lower lows as decline accelerates

Posted on June 22, 2022 at 7:51 am GMT

Gold has been in a sustained downtrend after it failed to cross beyond the 1,857 region. Moreover, in the past few four-hour sessions, the price has dived beneath both 50- and 200-period simple moving averages (SMAs) alongside its lower Bollinger band, painting a doomy short-term technical picture for bullion. The momentum indicators are endorsing a bearish near-term bias. Specifically, the stochastic oscillator is descending in the oversold zone, while the MACD histogram is currently below both zero and its red [..]

Technical Analysis – Gold indecisive within constraining zone

Posted on June 20, 2022 at 7:23 am GMT

Gold got immediately congested within the $1,837 – $1,855 region following last week’s bounce off the $1,805 low. The 20- and 200-day simple moving averages (SMAs) are currently limiting bullish pressures, while the RSI and the MACD provide little direction about the next move in the price as the former is drifting sideways below its 50 neutral mark and the latter remains stable within the negative territory. If buyers claim the $1,855 boundary, the next challenge could develop within the $1,870 – $1,880 territory [..]

Technical Analysis – Gold sets foothold near May’s base

Posted on June 15, 2022 at 9:20 am GMT

Gold pivoted near May’s support zone of $1,808 early on Wednesday following last week’s quick bearish retracement off the one-month high of $1,878. The upturn in the RSI on the four-hour chart, which bottomed near its 30 oversold level, and the positive trend in the Stochastics are encouraging signs that the recovery could continue in the short term. Yet, the path higher could be rocky, as several obstacles are still lying ahead. The $1,825 barrier could come first into view ahead of the [..]

Technical Analysis – Gold jumps higher but is capped by 200-day SMA

Posted on June 14, 2022 at 8:59 am GMT

Gold prices are regaining some momentum after the aggressive sell-off from 1,878 in the previous session. Chances for an upside reversal, however, are increasing as the 20-day simple moving average (SMA) jumped above the longer-term 200-day SMA after six months. The MACD continues to strengthen to the upside and above its red signal line, while the RSI is ticking up in negative territory, supporting this current bullish view as well. Immediate resistance to further gains would likely come from the [..]

Technical Analysis – Gold capped by short-term SMAs; uptrend line is the next obstacle

Posted on June 8, 2022 at 9:30 am GMT

Gold prices have been moving lower towards the near-term ascending trend line, that started since May 16, failing several times in the previous sessions to surpass above the 20- and 40-period simple moving averages (SMAs). The RSI is appearing flat, slightly below the neutral threshold of 50, while the MACD is standing above its trigger line in the negative region. A rebound off the uptrend line, may boost the commodity higher again, reaching the short-term SMAs at 1,850, before resting near the immediate resistance at [..]

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