The decade of bull run from ~$260 in 2001 to $1920 in 2011 (6X) on back of safe haven buying and an investment asset class ended with revival in major global indices and on track economies. The 5 years of slow and steady pain from 2011 to 2016 where gold lost 45% of its glittering from its peak might come to an end. We might witness the resumption in the bullish...
It is crystal clear that the gold is ranging in an inclined corridor (see the two inclined lines) + the prices are below the VWAP (for the moment). Since there is no volume the minute I type this, it is difficult to predict exactly what is going to happen. But here are the only 2 scenarios:
First, the market will break the range from above with a strong...
Interesting time for copper!
Chinese smelters and global miners meet every November to negotiate the annual benchmark for the following year’s TC/RCs.
Miners pay treatment and refining charges (TC/RCs) to smelters to process concentrate into refined metal. When supply is scarce, refiners have to charge less to attract what they need.
This comes when...
Based on price action on this week we will have these key price points:
support: 1819.30 (main bottom)
The main point for today is: 1889.70
any news about election, vaccine and stimulus can give momentum for gold!
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The information given is...
Gold on the way to finish last leg up
to perhaps at the current level or more
to as high as $2030/Oz.
Then a downtrend may resume for much
lower level perhaps to as low as $1400
in the coming months or so.
We have seen the COMEX Gold Future showing some fake signals during last weeks. Signals followed by very strong volumes, but, seeing the market price running the other way around.
Be careful when trading the Gold Future.
All the red arrows are showing examples of fake signals.
The blue line is an overall trending line being a strong support, if broken there is...
The general trend of the COMEX GOLD FUTURE is still valid as an uptrend as soon as it is above the blue slope support.
The red line marks the most important line where the sellers won't let the market go above.
The yellow metal have seen recently strong sellers push and have revealed an area (The red line) where the fight is going on between sellers and buyers....
Gold Technically forming a base around 1845-40 range and upside resisting at 1882-85 saying overall range 1840-90 for now. H4 timeframe at over bought zone and need to correct till 1860-65 zone again to bounce or if breaks there we can see a straight drop till 1848 sept 28th low. Meanwhile one can wait and either buy from low or sell from high 1880-85 zone which...
Gold is close to completing the double zigzag. The internal structure has not yet shown five waves of decline, which indicates that the growth is not over yet. Using the Fibonacci ratio-wave (Y) = 1.618 wave (W), I calculated the approximate end point of growth equal to $1804. Therefore, I am still inclined to expect growth towards this target.
Last month as a result of the Covid-19 lockdowns, the physical gold market was in such significant lock down that the basis between physical gold and paper gold (E.g. CME gold futures) blew out to black swan levels, costing numerous trading houses billions. This was because through the EFP trade these trading departments are short CME and long physical. The fair...
On Feb 20 markets started to go down due to COVID19.
Here I posted some daily screenshots of: SPX, DOW, NASDAQ, DAX, CAC, FTMIB, FTSE, WTI
When economic conditions weaken and risk appetite decline, Gold normaly goes up because it is considered by many a safe...
Channel Resistance is 1745 nearby .
Hit: Take confirmation from lower-frame chart. If you want to analysis on a lower timeframe, kindly say in a comment.
Almost many things are till remaining on the chart although i have plotted following:
Major and minor channel
major and minor...
Hi, thanks for viewing.
I just posted this because the chart is the definition of neutral on the 4 hourly chart;
The price is side-ways,
RSI is almost at the 50 mid-point,
MACD (not shown because I don't have sub) is right on the zero line as well.
So, I watch with interest to see what is next. I am a bit less stressed about the price of silver dropping of late...