NihalCassim

NihalCassim

Previously identified crucial levels were identified as ...1165, 1177, 1181, 1196, 1205, 1215, 1230, 1254, 1264. Even if we break upwards from this descending channel (red) today, courtesy of a favorable FOMC meeting, gold will still consolidate around $1180 for 2-4 weeks in my view. This has been a harsh fall, with a lot of volume and many fools like me have...

NihalCassim Updated 

The DXY has begun to correct. Other currencies have started to strengthen against the USD. But gold has not reacted as strongly as it should have. Gold had been very sensitive to the USD when the USD was getting stronger, so logically we would expect gold to strengthen when the USD began to weaken. But this has not happened yet. It could be because of some crucial...

NihalCassim

Correction begun when it broke 101.40 If it breaks 100, then look for 99. if it breaks 99, then look for 97.

NihalCassim Updated 

Over the last one year oil has gotten used to certain supports and resistances. The main support ranges are $37-$38 and $42.5-$44. The main resistance is $50-$52. For 10 out of the last 15 months it was been trading between $44-$50. These define our outer trading ranges. I have been trading oil for 18 months and most of the big money trades ($3-$4 wins) have been...

NihalCassim Updated 

It can test the bottom of the recovery channel, it broke out of there and gave the longs a fantastic chance to make some money. Now that volatility will be high this week, gold should be fun for quick trades. TP 1293.

NihalCassim Updated 

Gold has serious resistance between 1340 and 1360. Once it clears that, then the previous resistance levels are $1415, $1475 and $1550. On the downside breaking $1316 can produce some sharp falls. But either way its going to have a big move soon so I don't think range play between $1310 and $1340 should be a strategy at this time. I see the following...

NihalCassim Updated 

It seems that Gold is painfully stuck in a rising channel. Its about $25 wide with support and resistance rising by almost $1 per day. Support is at $1265 and resistance at $1288. On election day its expected to be $1273 and $1296. Given the fed meeting and elections, volatility cannot be ruled out, which may cause Gold to break past. So trade carefully. I...