Currently, gold is budding up against intraday resistance, following two consecutive sessions of gains on a weaker dollar. As the rate hike came and went, many – even those who ushered in the hike with excitement – are beginning to wonder if the Federal Reserve waited far too long to boost interest rates.
The yellow metal had began its two-day rally by finding...
1. Looking For A Sell in Gold.
2. Near Structure @ 1089.
3. Targets @ 1050, then breakout of channel for 1000, for potential buy.
4. RSI Rejecting Rally in Daily Chart till now.
5. Dollar Might Take More Strength.
6. Keeping Stops Above 1105.
7. Also have eye on GDP Data.
The gold-oil gap appears to be passing through a tipping point. A surge in the long-gold short-oil position could be due to either a gold rally, an oil dump, or both. Chart shows position using one gold future and one oil future but there exists a parallel position using ETF's.
Precious metals jump higher ahead of today’s FOMC minutes and potentially the first rate hike in the U.S. since 2007. Why? It’s most likely contributed to the fact that the majority of market participants believe Fed Chair Janet Yellen will remain extremely dovish post-rate increase.
A dovish hike may be a hard sell , as Nomura suggests, but precious metals may...
1.Gold is Looking Bullish , It Completed Cypher Pattern.
2.Higher lows in RSI.
3. FED Meeting in December and FED said "Still Open about December Rate Hike", which has built pressure.
4. Job Data's this week.
5.Can go Long for Initial Target of $1150 .
6- Near Stops so Good R/R...
$1,000 per ounce is near - an existential victory for Wall Street
Historically, gold has been a go-to for times of financial uncertainty, whether deflationary or inflationary. Unfortunately, with the perception that central banks around the world will stimulate until growth shows up (hasn't so far) and a global slowdown won't turn into a global recession, gold...
While I am still a dollar bull and don't yet see no fundamental signs to change that position, I can't help but notice a $80 technical zone that may provide gold support in 2016. I had already noted $1110-20 as a possible support (old resistance from 2008), but I only just realized that $1110 is the 50% retracement from the 1976 lows ($101) to 2011's highs...
Should silver price in retail demand or economic sentiment?
Silver prices have rallied hard since the beginning of October, up almost 10.5 percent since the October 2 low. However, traders are now budded up against key technical resistance. Will traders’ sentiment reject silver’s upward momentum, as it has done seven times since 2013, or will demand spark higher...
In " Gold Leaps Higher as Worries Mount ," I briefly pointed out how those very same institutions that championed quantitative easing policies implemented by the Federal Reserve are now coming out to proclaim quantitative easing added no substantial benefit to the real economy .
Gold was pushed lower on the assumption that central banking policy would all pan...
The BRICS (Brazil, Russia, India, China and South Africa) are highly watched emerging markets because they represented roughly 22 percent of global GDP in 2014. However, the global economic slowdown and increased geopolitical tension has weighed heavy on these markets. Although, India may be the most resilient economy out of the BRICS.
India has felt its share of...
Goldie won't be out done by crude. She is trying to bust a move. We triggered long tonight and will keep a tight stop just in case Goldie starts getting frisky. If we stop out then we will wait for a clean break and then buy the pullbacks and pauses.
main trend is on the downside
shown with pitchforks
possible bullish ALT AB=CD
possible price objective is 1032.35$ on completion
on old support 2008-2010
Looking at past price action, we can detect a clear correlation, and sometimes leading movements of the gold futures versus the AUDUSD pair.
In this case, there's a clear divergence between the price trends in the short term.
I'm waiting for a breakout of the sideways movement down in the following days. Should make for a decent short setup once confirmed.
After being stopped out on the long side we are back in the wedge. The fake breakout could reverse hard and squeeze the gold bugs so we will short any bounce. The failed pattern is a great pattern and one of our favorites. We also have a MONTHLY signal that fired short so we will press the short side of Goldie. Remember...NO TRIGGER, NO TRADE!
We were stopped out of our Gold position and are on the side lines. We mentioned that we had a larger time frame signal setting up and the long side was fighting that signal. We are now back in the wedge which could mean a fake break out and lower gold prices. Keep this on your watch list.
We are still holding onto to Goldie. She is acting well. First targets were hit and stops pulled up. She may consolidate for a couple of days before reaching for higher levels. We will honor these stops...if we get taken out then no harm done. Stay tuned.
