Gold took out $1263 levels is now struggling to take out flag resistance at $1278 levels.
Hourly chart
hourly chart shows repeated failure to take out/sustain above $1278 levels with stochastic in favor of bears.
A technical correction to $1263 levels could be seen.
On the higher side, intraday break above $1278 should be followed by a move...
Gold's repeated rebound from $1227 from last few days, followed by a jump from 50-DMA support today has strengthened the case for a bullish move.
However, area around $1263 has repeatedly capped gains and did so today as well/. Hence, only an upside break above $1263 could see fresh demand come-in and fuel rally towards $1276 levels (flag resistance).
...
Resistance – $1253, 1263, $1275
Support – $1238, $1227, $1221
Gold’s repeated rebound from $1227 (23.6% of Dec low-Mar high) followed by a move back above 50-DMA yesterday has left the doors open for a rise to $1253-1263 levels.
On the lower side, $1227 remains a strong support, which needs to be breached if bears have to have say in determining prices....
Resistance – 1263, 1270, 1283
Support – 1238, 1227, 1220
We were expecting prices to drift lower to H&S neckline, however, weaker rebound in US durable goods orders triggered wave of USD selling. Consequently, metal jumped above 50-DMA.
On intraday basis – repeated failure to dip below $1227 (23.6% of Dec low-Mar high) followed by a recovery today...
Resistance – 1238, 1263, 1270
Support – 1220, 1200, 1190.85
Gold’s failure to sustain above $1263 levels followed by a repeated failure to see daily closing above 50-DMA indicates prices could be heading towards head and shoulder neckline level of $1220 ahead of Fed rate decision.
Rise in treasury yields and a upbeat US durable goods data may add to...
My opinion on gold is
1. It would make a good buy position now, and
2. it makes a good hedge for a portfolio.
The reason I think it has upside potential is due to the dwindling investor sentiment in central banks' ability to drive inflation through monetary policy. For this reason, I think that the coming few quarters will see investors buying into gold as both...
The reason why we feel GOLD may Rise.
* On weekly basis it has just started moving DOWN
* To SINL and come near 1228 levels
* Stoch RSI (3,3,14,Close) is Sinking.
* RSI (14,CLOSE) is Sinking.
* CCI (20,CLOSE) is Sinking.
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our SELL call shall be from SELL BELOW :1245.09,...
DJIA is expected to sink now.
There are many reason why we feel it may sink.
01. It has CLEARED quarterly TARGET 02 level. and may come down for a bounce back soon.
02. Bearish Engulfing in daily Chart.
03. To sink and come near 1204 to 1197 levels
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06....
GOLD is expected to SINK.
There are many reason why we feel it may SINK
* HAMMER in WEEKLY Chart.
* To SINK and come near 1199 LEVELS
* Stoch RSI (3,3,14,Close) clearly states it maySINK.
* RSI(14,CLOSE) Is also of the same view.
* CCI(20,CLOSE) Is also the same
Keeping all the above indicators in view along with the chart pattern we expect it to sink. Our...
GOLD is expected to sink now.
There are many reason why we feel it may rise.
01. It had almost touched Target 03 of Quartely.
02. Hammer pattern in daily Chart.
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also sinking.
Keeping all the above indicators in view along with the chart...
Should silver price in retail demand or economic sentiment?
Silver prices have rallied hard since the beginning of October, up almost 10.5 percent since the October 2 low. However, traders are now budded up against key technical resistance. Will traders’ sentiment reject silver’s upward momentum, as it has done seven times since 2013, or will demand spark higher...
Coming through the KUMO as a reversal setup, price will be expected to range between 1100 and 1300 until the autumn months of 2015. IF the lagging span clears the cloud in bearish territory there is potential for 1029 and further 722. However at a crucial 61.8%FIB retracement level there could be long positions made here. Overall, the chart shouts short positions...
The Gold still in a Tight Neutral Range, in my humble view .. the 38,2%($1306,33) can be the next Target for Short positions From $1317/19, the Break of this level can open the Door to the next Floor, and confirm the Bearish rally ,
We can see easy a Kind of Triple Top in 4H charts PLUS to think in possible shorts.
Very interesting scenario for next days &...
