Gold Technical Analysis – 6th May 2013 – XAUUSD Update XAUUSD has seen further consolidation around the 1440 – 1490 zone but ultimately closed last week near the top of the recent trading range, and above the W1 200 SMA. Gold has rallied almost 5% over the previous two weeks. However, we note that price has…
S&P500 Technical Analysis Update – Bearish Outside Day Within Ascending Channel The benchmark S&P500 index has printed a bearish outside day, after taking out the previous 1592 area swing high and subsequently failing to push higher. The daily timeframe chart below shows that price is moving within a longer term ascending channel. A strong break under…
Gold Technical Analysis – 26th April – XAUUSD Chart Update The price of gold moved to a multi-session high on Thursday, as the precious metal has pulled back over half of the month’s near-record decline. Gold is heading for the biggest weekly increase since October 2011, unless there is a swift trend change as the week…
Gold Technical Analysis – Week Of 15th – 19th April XAUUSD has seen a breakout under the longer term gold $1530 area support level and a continuation of the move lower heading into this new week. Gold dropped $84 per ounce on Friday with an associated 5.38% decline. This $1530 area also represented the 23.6%…
Gold Technical Analysis – March 20th – XAUUSD – 20/3/13 Our previous update highlighted the breakout of recent gold range consolidation highs around the $1585 area. Price is now trading around the 1611 mark after an extended move higher. Gold is currently trading at a +1.26% daily gain on the 20/3/13. This area is aligned…
Gold Technical Analysis – March 13th – XAUUSD Gold Analysis, 13/3/13, Forex-FX-4X.com Gold has rallied today, to the 61.8% Fibonacci retrace area of the last leg lower from $1619.78 – $1561.44. This came after a breakout of the recent range consolidation highs around the $1585 area. XAUUSD has found interim resistance at this 61.8%…
Gold Analysis – March 11th-15th – Weekly Technical Update Gold (XAUUSD) continues to move in a consolidation phase and has covered just 55% of the AWR over the prior week. Price is oscillating around the 1580 area, roughly aligned with where it started the past week, and still trading above key 1530 area previous support (see the W1…
Gold Technical Analysis – March 1st 2013 – Outlook The price of gold has just experienced the worst monthly basis decline since May 2012. The XAUUSD instrument has dropped for a third consecutive day during trading in London on March 1st, already covering 110% of the average daily range over 60-days at 10:56 GMT. The strengthening US…
Crude Oil Bearish Breakout – Decline Continues On Inventories/GDP Data – The price of (April contract) light, sweet crude oil futures is trading around USD 91.66 per barrel on Thursday, after hitting a high of USD 93.16 earlier today. – The 95.00 area previous support level was broken on the 20th Feb and the level has…
Gold Technical Analysis – Week Of 25th February 2013 The price of gold has seen an extended decline over the past week, culminating in a test of the FE161.8 extension, as per the daily time frame XAUUSD chart below. Gold had moved to seven-month lows, and a second consecutive weekly decline, after the Fed policy…
Crude Oil Technical Analysis – Price Consolidating Above 95.00 Prior Support The H4 March 2013, Light Sweet Crude Oil chart below shows price is consolidating above key 95.00 area prior support. The weekly candle closed marginally higher at at 0.21% gain. Light sweet crude for March 2013 is down –1.50% on the month at this…
Gold Analysis – Gold Falls Under $1,600 For First Time In Six Months The price of gold has fallen under the $1,600 per oz level for the first time in six months as the precious metal appears to be without a clear driver to bring a near term upside scenario.. Our previous update highlighted a breakout…
S&P500 Technical Analysis – Week Of 18th February 2013 The benchmark S&P 500 index dropped 0.1% to 1,519 points on Friday and has traded within an intraday range of around 11 points this past week. Nonetheless, the S&P 500 is trading around 3% under record levels, as optimism around global growth data, decreasing eurozone debt concerns, and…
Gold Technical Analysis – February 15th 2013 Gold dropped to a six-week low point today with the dollar finding broad based strength on renewed concerns around the euro zone area. The daily range for gold came in at 112% of the average over 60 days (ADR). The XAUUSD has previously found resistance at the Fibonacci…
Gold Technical Analysis – Outlook February 11th 2013 The D1 (fig 1) XAUUSD chart below shows the range-bound trading has continued through the end of last week. The failure to reclaim $1,700-per-ounce by the gold bulls has seen a flat market with no clear near term directional bias. Any sustained breakout above this range would…
Gold Technical Report – Analysis, Outlook – February 8th – 2013 The daily timeframe gold spot (XAUUSD) chart below shows a continuation of the 1650 – 1685 range trading scenario is still playing out. Silver is likewise trading within a contracting range. Gold remains range-bound after the failure to reclaim the $1,700-an-ounce level so far…
Gold Technical Analysis Update – Week Of February 4th – 8th – 2013 The XAUUSD chart below shows how the price of gold has oscillated between the 1657 – 1683 levels over the past three trading sessions. Price ended the week with a daily range which was 145% of the average over 60 days, after the…
Price Of Oil Experiences Longest Run Of Weekly Gains In Over 8 Years The price of oil has moved higher for eight consecutive weeks with WTI crude gaining 2 percent over the past week. This matches the last most significant bullish run, from August 2004, and comes on the back of strong gains in U.S. equities…
Gold Analysis – NFP – U.S. Employment Report Near Term Event Risk – Update 1/2/13 From a sentiment perspective we note that the XAUUSD rallied this Wednesday, as the FED (US Federal Reserve) kept the existing $85 billion per monetary stimulus measures in place. This is widely viewed as a supportive element for gold and…
Gold Technical Analysis – Biggest Decline In Five Weeks – Outlook 28/1/13 Gold has seen an extension of the downside rejection from 1700 area resistance. The XAUUSD pair posted a weekly drop of 1.60%. Market participants may now view the global economic outlook as being better than anticipated, this is weighing on the precious metal….
