Gold dropped slightly yesterday. Overall the price has traded between 1775-93 throughout the day without much difference from the day before. The gold price has started to escape the S-T channel(1) that we mentioned yesterday, created a new resistance line(2) in the past 24 hours. The upward flag pattern is still under development. The key breakout remains at...
Gold climbed near USD 27 last Friday. The price was stable below 1760 at the Asian and European sessions. Once it has broken the key resistance 1760(3), the price surged all the way to close near 1779. Since the price had broken out from the resistance line(1) last Thursday, it has climbed along with the S-T support line(2). As it broke the key 1760...
Gold continued to wander near the weekly high yesterday. The price has touched the day-high at 1794 early in the Asian session and it began its way down. The day ended at 1787, up slightly by USD 1. Gold is still in a period of consolidation in the 1-hour chart after it has been rejected by 1793. The price has broken the S-T support line(1) early in the Asian...
Gold pulled back from a 1-week high yesterday. The price was wandering between 1784-89 early in the Asian session. It has broken out from 1790 and touched the day-high 1795 at the US session. The price then retraced to day-low near 1780 and ended the day at 1785, down slightly by USD 1. Gold was rejected by the 1790-93 resistance zone(2) yesterday. While the...
Gold continued to climb yesterday. It was under pressure by the 1780 resistance early in the Asian and European session. The price has climbed all the way to day-high 1789 right after it touched day-low at 1770 at the US session opening. The day ended at 1786, up slightly by USD 7. Gold has completed the 1790 target from yesterday. The upward momentum seems...
Gold prices were basically unchanged yesterday. Before the European session, it has gone to day-high near 1758 and began its drop. The price went to as low as 1740 at the US session, with the day ended at 1752 fluctuated USD 16. S-T support line(1) continues to provide support for gold, and the triangle pattern (2) is still good for today. The buying yesterday...
Gold reached 1750 yesterday. The price has traded between 1730-35 throughout the day until it broke the previous high at 1738 at the US session. It has gone all the way to day-high 1754. The day ended at 1751, up by USD 22. The downward momentum originated from 1830 will now officially slow down and possibly be shifted to a horizontal range, 1720-1754(4),...
Gold was steady yesterday. The price has opened near 1728 in the early Asian session, and its drop began right after it has touched the day-high near 1738. Although the price has broken the support at 1725 and gone to as low as 1716 at the US session, the day ended near 1729, basically unchanged from the day before. Overall the movement was in line with our...
Gold fell more than USD 40 last Friday. The drop has begun after the US employment figures. Once it broke the support at 1790(1), the price went all the way to 1760 with the day ended near 1763. Back from the weekend, selling has been triggered by the breakout of 1750-60(2) early in the Asian session. As a result of extremely thin trading volume during that...
Gold fell another USD 35 on Monday. Early in the Asian session with extra thin volume from the Japanese & Singaporean market holiday, the price has broken the 1760-50(1) support. Carried the selling momentum from the previous trading day, the price has gone to as low as 1650. It has rebounded quickly, the price has traded between 1725-1750 during the European...
Gold escaped the 1807-1818 range yesterday. The trading was stable early in the Asian & European session, and the price broke the 1807 support(1) at the US session right after it has touched 1815. Day-low has gone to as low as 1797 with the day ended at 1803, down by USD7. The trading range has shifted from 1807-1818 to 1794-1807(3) on the 1-hour chart. ...
Gold once again pulled back from the weekly high yesterday, closed nearly unchanged from the day before. The price had bounced between 1810-1815 early in the Asian & European session yesterday. It then broke the 1818 resistance at the opening of the US session, climbed all the way to 1832(2). But the price has fallen quickly thereafter with the day ended at...
Gold was basically flat yesterday traded in a super tight range. Nothing has changed in the past 24 hours, the pattern keeps in the 1807-1815 range(1). The price is now bounded by the 5 & 20 days MA on the daily chart. In order for the uptrend channel(2) to stay in effect, the daily closing prices for the next 48 hours need to keep moving higher. If the...
Gold remained in a tight range yesterday. The price rallied from 1806 and touched a day-high 1819 at the US session, finished the day at 1813, nearly unchanged from the day before. The climb to 1819 at the US session ended the 1830 drop from last Friday. A horizontal range, 1807-1818(2), has been created by the movement yesterday. An S-T support line(1)...
Gold retreated from the weekly high last Friday. The price has traded between 1825-30 throughout the day and it began its drop at the US session. The price broke support(1) and clear all the buying orders between 1815-18(2) ending the day at 1813, down by USD13. The buying momentum halted completely above 1830 last week since the price has escaped the S-T...
The gold price is now consolidating horizontally within 1825-1830 while the S-T uptrend(1) originated from Wednesday has finished today early in the Asian session. The trading strategy for today is relatively simple as the price approaching 1835. If the price breaks the 1835 resistance at the US session, the next target should be near 1845; on the other hand, if...
Gold started to rebound yesterday. The price has traded between 1794-1810 throughout the day until the US Fed. meeting. The day ended at 1806, up by USD 6. As mentioned at the beginning of the week, it's about time for the price to break the S-T resistance line(1). The formation of the pattern (2) confirms now, 1st target for the climb should be near 1825...
Gold once again traded in a tight range yesterday with the price floated within USD12 and closed up by USD5. Everyone should be able to take advantage of the range 1794-1810(1) in the past few trading days as the market is basically moving in line with our expectations without any surprises. The Fed. meeting later on today should be the stepping stone for the...