Previous setup in Gold was bullish confluence zone near 1050$. Since then, the oversold precious metal exploded higher and broke out of its downtrend, closing above the 200 SMA line and providing a longer term bullish signal (as projected in this blog post - goo.gl) $XAUUSD reached the first out of two major daily structure zones - 1165-1180$ and...
With the Federal Reserve finally raising interest rates and risk sentiment entering the market, there is potential for a bullish break of a falling wedge.
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...
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...
Copper, just like the rest of the metals (see analysis for gold below), completed a bullish pattern - Bullish AB=CD pattern. Unlike gold that rallied strongly following Friday's NFP numbers, Copper didn't make the breakout and still below its daily Fast SMA line. If Copper will break above 2.08, it could lead to a strong rally that can reach up to 2.2-2.25 -...
Gold mining stocks have been trending higher, along with the overall U.S. equity market, of late. The recent support in gold prices allowed the Market Vectors Gold Miners ETF (GDX) a strong close last week, pushing 15 percent off the November 18 low. Gold mining stocks really get a pass from traders, and it is still early to determine whether the move will last...
Gold price broke below 1080 last week and created a new low. The latest sell off started from the bearish pattern I mentioned here few weeks ago and was accelerated when Gold broke below its weekly uptrend line. The critical support now is 1040-1060$. As you can see, Gold will complete two weekly bullish patterns inside this zone – Bullish Crab and Bullish...
$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...
NOTE: If you haven't looked at the daily chart of gold we posted...please do so before reading this further. Now that Goldie has founds legs we have two weeks of buying at the bottom which could mean they will test the upside range. The erratic behavior is an indication that one side will take control and when they do it will run. LOOK AT your weekly and...
Both #GOLD and #SILVER are in correction phase for exactly 4 years now which looks like ending very soon. Bullish Divergence on both metals is already giving strong signal of Bulls getting ready for longer term... Keep eyes on it !!
Following the FOMC minutes on Wednesday, gold has seen a massive two day move that brought the precious metal to five-week highs. Worries mount as market participants are beginning to realize that the Federal Reserve is stuck within a liquidity trap. The minutes statement indicated that the Fed saw risks to near-term inflation (as the five-year breakeven rate hit...
With the possible trend lines for gold (GC1!), it looks like we saw a fake break out of that range today, culminating in a doji candle. This on its own is not a good enough buy signal - granted, but if we overlay the price of silver (SI1!), we see that silver has shown a high correlation with gold but with higher peaks and troughs. With gold now at a point which...
Traders knocked gold below $1,200 for the time being, as market participants determine whether or not the Federal Reserve will hike the Fed funds rate for the first time since 2006. The Fed is stringing along financial markets. Either the economy is strong and deserve a tightening of monetary policy, or it is not. The voting members of the FOMC still remain...
Looks to keep grinding up, at least for another 6 months in this rising wedge. You can't trade between silver and gold, but its certainly worth taking a look at the key support/resistance. On the break of this rising wedge, I might consider trading some of my physical gold bullion I've collected over the years for silver.
Platinum has been on a steady decline with slow demand. Platinum trades at a discount to gold, a condition that occurred last month. The spread between the two precious metals has tightened, but were at the widest in two years. Platinum, although grouped in with gold and silver as a precious metal, is typically lumped into the industrial group with palladium....