Gold rebounded from the 2-month low. The day began at 1884 yesterday, and the price has broken the 1880 support touching the day-low at 1871 early in the Asian session. However, the short-selling wasn't strong enough to push the price below 1970; the price quickly jumped back upon 1880. The day ended at 1894, up by USD 10. The US Q1 GDP figure was released a...
Gold cleared the 1940 support last Friday. The price has started its journey down after it the day began at 1955 and touched the day-high 1955 in the Asian session. It broke out from the 1940(1) support during the European session hit the day-low at 1926. The day ended at 1929, down by USD 21. After the price got below 1940 last Friday, gold is now resuming...
Gold dropped further yesterday. The day began near day-high around 1905, and the price has kept on moving lower throughout the day. The price finally broke the 1894(1) support at the US session opening and fell to the day-low at 1881. The day ended at 1885, down by USD 19. Gold is still under the selling pressure from the resistance trendline(3) on the...
Gold hovered around the 2-month low yesterday. The day began at 1898, throughout the day. The price was bounded between 1894-and 1906, with the price briefly touching the day-high at 1911. The day ended up with USD 7, closing at 1904. Gold has not yet escaped the S-T downtrend in the 1-hour chart, still under pressure from the resistance line(2). The price is...
Gold dropped to a 2-month low yesterday. The day began at 1932, carrying the selling momentum from last Friday. A fresh round of selling has been triggered by the price breaking the 1915(1) support at the European session. The price went to the day-low 1991 at the opening of the US session. Finally, the day ended at 1897, with a USD 33 drop. The bottoming...
Gold rallied from 1940 again yesterday. The day began near the day-high at 1956, and the price was one-way downward during the trading at the Asian & European sessions. It touched a new weekly low at 1936 at the US session opening then the rebound started. The day ended at 1950, down by USD 6. Although the price touched a new weekly low at 1936, the selling...
Gold pulled back from the 4-weeks high yesterday. The price broke out from last Friday's high 1981(1) early in the Asian session and triggered a new round of S-T buying, pushing the price to the day-high of 1998 at the US session opening. But the day ended at 1978, below the resistance of 1980, up slightly by USD 6. The buying above 1980 is not strong enough to...
Gold successfully defended the 1940 support yesterday. The day began at 1949. Carried the selling momentum from the US session the day before, the price touched the day-low early in the Asian session yesterday. The price was gradually moving higher during the European session. The day ended near day-high at 1957, up by USD 8. Gold found its support at the...
Gold pulled back further yesterday. The market opened at 1977 on Tuesday. Carried the bearish momentum from the US session the day before, the price broke out from the supporting trend(1) early in the Asian session. The drop yesterday officially began at the US session after it reached the day-high at 1981. The selling has accelerated as it cleared all the...
Gold reached a new 2-weeks high yesterday. Carried the buying momentum from the day before, the price has kept on moving higher since the day began at 1966. It reached the day-high 1981 at the US session, and the day ended at 1977, up by USD 11. Gold seems to begin its holiday a bit earlier then expected; yesterday's range during the US session was tight within...
Gold gained about USD 15 last Friday. After the market opened at 19031, the price was bounded between 1926-34 early in the day. The climb began as the price broke the S-T resistance line (1) at the US session. The price reached the day-high 1948, before the week ended at 1945. The technical pattern hasn't changed much on the 1-hour chart; 1915-59 (3) remains...
Gold continued its uptrend yesterday. The market opened at 1960, and the price was rejected by 1960 early during the Asian and European sessions, bounded between 1950-60. A renewal round of buying was triggered after the US released its CPI figures, broke out from the triangle pattern(1), and climbed to the day-high at 1978. The day pulled back to 1966 before...
Gold broke out from the critical resistance 1950 yesterday. The day began at 1947. The price has consolidated toward the day-low 1939 early in the Asian session until buying started while the trading was entering the European session. The price has climbed to the day -high 1969 after it crosses the 1950 (1) resistance—the day ending at 1952, up by USD6. The...
Gold continued to trade in a tight range yesterday. The market opened at 1923. After wandering around 1920-23 in the Asian session, the price has started to climb as it approached the European session; and peaked at 1937 during the US trading hours. The day ended at 1931, up by USD 7. The structure hasn't changed at all in the 1-hour chart; we can continue to...
Gold eased as the USD strengthened after the employment figures last Friday. The market opened at 1937. The price was traded in a tight range between 1933-37, early in the Asian and European sessions. The drop began as the market approached the US session, and the price consolidated further after the US released its employment figures. The day ended at 1924, down...
Gold was rejected by 1950 again yesterday. The market opened at 1932, and the price has started to climb after it visited the day-low at 1918 early in the day during the Asian session. The upward momentum has accelerated as the price crossed the S-T resistance line(1). The gold price peaked at 1950 during the US session, and the price was pulled back to 1937 to...
Gold rose to 1940, the top of the range yesterday. The price has been bouncing between 1920-25 early in the Asian session after the day began near 1920. The market was relatively stable until it visited the day-low at 1916 and started to rebound. The price jumped to the day-high 1938 at the US session, with the day ending at 1932, up by USD 13. Since the price...
Gold rallied from the 2-week low yesterday. Carried the selling momentum from the day before, the price was under pressure by the S-T resistance line(1) throughout the day, and the fall has accelerated once it broke the 1915(2) support at the European session. The rebound began after the price had touched the 2-week low, 1989, at the US session opening. The day...