The gold market was relatively quiet yesterday. The price has traded between 1710-1717 majority of the day until the US session. The buying has begun to enter the market after the releasing of the CPI figures. It then broke the key resistance 1720(1) & the day ended near day-high @ 1726. Buying momentum continues today early in the Asian session with the...
Gold rose over 2% yesterday. The market began near 1680 level, the price then broke the upper resistance(1) of the downward triangle pattern in the European session and escaped the resistance zone 1700-05 in the US session. The price touched day-high @ 1720 with the day ended at 1715. Gold has finally left the downward triangular pattern originated from 1759, the...
Once again influenced by the US stimulus news over the weekend, gold found itself slightly gapping high @ 1703 on Monday Asian session opening, reached the resistance line(2) with a day high @ 1714. But the buying was weak above 1710, the price has soon dropped below the gap(1) in the European session. Gold fell to a 8-months low @ 1676 in the US session & the...
Gold was relatively stable last Friday, range-bounded within 1690-1700 throughout majority of the trading day. After the U.S. employment figures, the price then touched both day low & day high within 2 hours, 1687-1707. The week ended at 1698. On Friday, the price failed to carry the selling momentum from the day before as it is now trading back above the...
Gold fell more than 2% on last Friday. The price has traded between 1755-65 early in the day before it started its drop @ the U.S. session. It touched 1716 for the day low & closed @ 1732. Gold has been under selling pressure from the S-T resistance line(1), a reversal signal for S-T will occur only if the price can cross the line(1). Golds has fallen exactly...
Gold price began its rebound last Friday. It went to a half-year low @ 1760 during the Asian session, broke the S-T resistance line(1) at the U.S. session opening. The price reached 1719 for day high and closed @ 1783. It has finally crossed the S-T resistance line(1), the selling momentum will temporary slow down, resistance is now @ 1790 &(2). The M-T...
Continuing the selling momentum from its pervious trading day, the price declined to day low, 1819, at the U.S. session opening on Friday. It has rapidly rebounded once the U.S. released the CPI figures & the market finally closed @ 1823. After gold price touched the 250 days MA(1) last Friday and has begun its rebound. Buying support seems to be strong at...
After the price hit a 2 months low last Thursday, it has rebounded quickly in the following day breaking the S-T resistance line(1). It jumped over 10 USD in the European session reaching the 250 days MA and the 1810 resistance. The U.S. jobs report signaled slow recovery and buying support has begun to come in @ below 1800(2). A S-T support line(3) formed in...
Gold surged to a weekly high last Friday, but the price pulled back shortly after the U.S. session opened. The price ended up closing below 1850 level. For 2 straight days, gold price has pulled back over 20 dollars before the market closings. 2 very long upper shadow lines(1) have formed on the daily chart & the bottom foundation that has been built in the...
Gold price began its fall early in Asian session after it broke the S-T support line(1) last Friday. During European session, the price passed the 1860 support & went all the way to day low @ 1836 in the U.S session. Gold closed at 1854 to end the week with a new S-T support line has formed(2). The buying before the daily market close has created another lower...
Gold finally closed below 1840 last Friday on the daily chat. All the buying support below 1840 is now gone and sell pressure may starts to take control over the gold price. If the price break the 1820 support, the next support will be @ the 250 days moving average(1).
Gold fell more than 80 dollars last Friday. Following the selling momentum from pervious days, the price was under pressure throughout Asian session. It broke both the support of the M-T uptrend channel(1) and the L-T upward resistance(2) in European session. Since both major supports was broken, the market was under pressure. It went down further after a...
Gold last week run within a tight range. but closed at near the weekly high of 1900. Since the price touched the lower support of the uptrend channel(1), it has started to show signs of surging. Gold is now attempting to breach the 100 days MA (2). And we can expect the next major movement in the coming week, if it reaches the L-T upward resistance line (3).
Gold didn't changed much during the holiday season. The price is remaining under the L-T downward resistance(1) and the M-T uptrend channel(2). M-T range bound @ 1860-90. A S-T upward support line(3) has been formed in the pass 48 trading hours. S-T resistance @ 1880. S-T Resistance: 1880 / 1890-92 S-T Support: 1870 / 1860-55
Gold price continued to become motivated last week by the hope of the new U.S COVID-19 aid bill with an overall surged of 2.2%. The price is running well within an M-T uptrend channel (1) on the daily chart, current resistance @ 1890 (2). The weekly high was set on Thursday last week on the 1 hour chart. A S-T downward resistance (3) has formed in the past...
Under the influence of a triangular pattern(1), gold traded within a tight range most of Friday. It tested the daily low near 1820 before the U.S. session, but support has shown very strong (2) @ below 1830. During the U.S. session, the price then breached the triangular pattern climbing all the way to 1847. Gold is still getting support from investors...
Gold rebounded from its 4 month's low @ 1765 early in the week, peaked @ 1848 on Friday and profit being booked before market closed last week. Gold is running into a key technical resistance @ 1850. While a few profit-taking being triggered last week, expect the price to consolidate a bit before any break through. The range 1832-45 is still valid. S-T...
Gold broke the major support of 1800 (1) last Friday, as growing optimism about a quick economic recovery and a faster than expected vaccine global delivery. M-T downward pressure continues while breaking 1800 trigger quite some stop selling orders. 1750 (2) / 250 days MA (3) remain the M-T targets. Notice there are still S-T buying support at around 1780, a...