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 downward trend will temporary break off since gold has found its support @ 1775 last Friday on the daily chart. The gold price will remain weak as long as the price stay below the current resistance line(4). The direction will only reverse if the price can once again stand above the M-T resistance(4).
S-T Resistance:
1800
1790-92
1785
Market Price: 1783
S-T Support:
1776
1770-68
1760
The M-T downward trend will temporary break off since gold has found its support @ 1775 last Friday on the daily chart. The gold price will remain weak as long as the price stay below the current resistance line(4). The direction will only reverse if the price can once again stand above the M-T resistance(4).
S-T Resistance:
1800
1790-92
1785
Market Price: 1783
S-T Support:
1776
1770-68
1760
Comment:
The rebound from last Friday has finally finished since the price broke the S-T support line(1) yesterday. A horizontal range of 1800-1815 has newly been formed in the past 24 hours, awaiting for a breakout.
The M-T downtrend continued on the daily chart, the resistance is now @ the 250 days MA(4) & the price is supporting @ the M-T support line(3).
S-T Resistance:
1826
1820
1816
Market Price: 1809
S-T Support:
1805
1800-1798
1792-90
The rebound from last Friday has finally finished since the price broke the S-T support line(1) yesterday. A horizontal range of 1800-1815 has newly been formed in the past 24 hours, awaiting for a breakout.
The M-T downtrend continued on the daily chart, the resistance is now @ the 250 days MA(4) & the price is supporting @ the M-T support line(3).
S-T Resistance:
1826
1820
1816
Market Price: 1809
S-T Support:
1805
1800-1798
1792-90
Comment:
Gold price was pulled lower by the dovish FOMC comments at the U.S. session opening yesterday. It left the 1800-1815 range(1) touching day low @ 1783. But buying orders have emerged before closing, ending the day @ 1804. The price is now trading below 1800 during Asian session. On the 1hr chart, the S-T trend has shifted from Feb. 19's Upward > yesterday's horizontal range > currently downward trend. S-T resistance is now @ (2).
M-T downward trend remains on the daily chart. However, buying support seems to be strong below 1800 before yesterday's closing. The M-T support line(3) is still valid. The M-T selling will only resume if the price close below (3) in the next few trading days.
S-T Resistances:
1815
1810
1800
Market Price: 1797
S-T Supports:
1790-88
1785
1780-78
Gold price was pulled lower by the dovish FOMC comments at the U.S. session opening yesterday. It left the 1800-1815 range(1) touching day low @ 1783. But buying orders have emerged before closing, ending the day @ 1804. The price is now trading below 1800 during Asian session. On the 1hr chart, the S-T trend has shifted from Feb. 19's Upward > yesterday's horizontal range > currently downward trend. S-T resistance is now @ (2).
M-T downward trend remains on the daily chart. However, buying support seems to be strong below 1800 before yesterday's closing. The M-T support line(3) is still valid. The M-T selling will only resume if the price close below (3) in the next few trading days.
S-T Resistances:
1815
1810
1800
Market Price: 1797
S-T Supports:
1790-88
1785
1780-78
Comment:
Gold dropped to as low as 1765 after a series of better than expected U.S. economic figures yesterday. In the past 24 hours, the fall has accelerated & a steeper S-T resistance line(1) has been formed. The price is currently in a horizontal range(2), awaiting for a break.
Gold price failed to stay above the M-T support line(3) on the daily chart yesterday, thus, M-T the selling has resumed. It is the first time in 6 months that the market closed below 1776, a sign of selling. A key support is now @ 1765.
S-T Resistances:
1789-90
1780-82
1775
Market Price: 1768
S-T Supports:
1765
1750
1735-40
Gold dropped to as low as 1765 after a series of better than expected U.S. economic figures yesterday. In the past 24 hours, the fall has accelerated & a steeper S-T resistance line(1) has been formed. The price is currently in a horizontal range(2), awaiting for a break.
Gold price failed to stay above the M-T support line(3) on the daily chart yesterday, thus, M-T the selling has resumed. It is the first time in 6 months that the market closed below 1776, a sign of selling. A key support is now @ 1765.
S-T Resistances:
1789-90
1780-82
1775
Market Price: 1768
S-T Supports:
1765
1750
1735-40
P. To
Gold price continued its rebound yesterday, surged another USD25 with the day closing at 1808. Since the price has broken the S-T resistance line(1), it crossed another S-T resistance line(2) yesterday & currently testing the resistance zone between 1815-20. A S-T support line(3)has newly been formed in the pass 48 hours, as long as the price stays above it, the S-T rebound will continue.
Gold remains in the M-T downtrend on the daily chart, however, the price drop started in last week has officially completed since it crossed the M-T resistance line(4) yesterday. If the price cannot get pass the 250 days MA(5) in the next few days, the M-T downward trend will accelerate.
S-T Resistance:
1826
1820
1816
Market Price: 1811
S-T Support:
1805
1800-1798
1792-90