Gold is moving in a tight consolidation. Most likely it will stay in it until CPI. For now it seems to me more bullish. Silver Yesterday SILVER formed healthy bullish candle. In my opinion today will be bullish again. GDX Gold struggled yesterday, but GDX was bullish.
Gold started the day very bullish, but it is still in the consolidation. In my opinion it will fall to make new LL. Silver Silver was more bearish last week. Overall, I expect to see a new LL from the metals. Silver is moving in a kind of wedge. Yields Yields are still bullish and we all know the negative correlation between US yields and gold. ...
Liquidity is coming back and so am I. My bias is bullish in the short term but bearish in the longer term. The NFP was a very interesting event, but did not change the price significantly. Gold had a chance to form a bearish manipulation, but instead ended the day as a doji. The price took the buy side liquidity and fell, but only to take the sell side. It is...
August is usually bullish for gold. I have been bullish for a week, but until now there has been no confirmation of my speculation. On Friday, the price was heavily manipulated, which gave me the confirmation I needed. Macroeconomics Most countries are talking about a future pause in interest rates. Last time the FED raised rates again and most likely there...
After falling 260 pips with ADP news, gold reversed on NFP. The NFP showed that fewer jobs were created, which is a surprise compared to the ADP (it made a 12M high). There is still a lot of sell-side liquidity, but with the recent price action, it seems that gold is going up. The main direction remains bearish as gold is trading in a bearish channel. For next...
Gold bounced out of the daily zone on Friday, but without strong manipulation, which means to me that it will continue down. Most likely we will see the price test the 1940-50 area or even the 2000 area(unlikely scenario) before continuing down. These two areas have proven to be important areas where the price has consolidated many times. Macroeconomics The...
Gold formed a very tricky doji on Friday. The price is in an area where it has consolidated several times. Macroeconomics The FED did not raise rates, but raised the forecast to 6%. And still J.P. did not confirm that they will raise them in the future. The situation is more complex, because of the very high level of debt. Market sentiment In my view,...
Last week was very unclear, every breakout was reversal. Until the CPI and the FOMC it will be unclear. Initially we may see bearish moves, because on speculation of higher rates. Macroeconomics Gold will be driven by CPI and the FOMC meeting. The labour market readings were mixed, so they do not give a clear indication of the FOMC meeting. At the moment,...
Gold was heavily manipulated to the upside last week, but the price action negated the manipulation. The NFP provided the necessary volume and here we are - bearish again. Macroeconomics The debt ceiling drama is not over. A higher debt ceiling will come, but it is not clear when. NFP is 12M high, more job were opened, ADP was also higher than expected....
I am bullish on gold this week. There is a chance for gold to resume the uptrend. Technical analysis are bullish in my eyes - on 4H gold formed very strong bullish manipulation, reacting of the monthly pivot point. Normally gold reacts very well on these pivot points, adding the manipulation seems very bullish. On Friday, PCE inflation rose, but gold formed a...
Let's start with the daily routine, step by step. Macroeconomics This week's market driver is the US debt ceiling issue. This should push gold higher, but it is still falling. Market Sentiment "But gold saw little safe haven demand over the past week, with prices tumbling sharply below the $2,000 level as a string of hawkish comments from Fed officials...
Gold reacted to the previous bullish manipulation and created a new one. Overall low liquidity move on 4H, which means it is quite bullish for now. Gold should rise to the next strong zone, which will also be a retest of the broken channel. Once this area is reached, it may fall again, but ONLY if the price forms a bearish manipulation. My bearish expectation is...
Yesterday gold had a chance to clear out the liquidity and form a nice bullish impulse, but it failed. The news was bullish again and the price was very heavily manipulated, but gold fell, negating the bullish manipulation. It seems that the banks are in no mood to buy and you know the old saying "Sell in May and go away". It is about the stock market, but it...
I have marked a bearish bias for today, but the direction is not clear. All markets are in a range, so it is very possible that gold will form a range day. I am more bearish on gold, because yesterday's CPI reading was bullish for gold and it could not go up - showing weakness. Gold is in an uptrend, ranging around 2070, most likely to accumulate another bullish...
NFP caused big bearish day -50 dollars fall. In my opinion gold has started a consolidation to break 2070-2080 area. Big moves caused by the news are really stable, in most cases price comes back. Macroeconomics Recent readings have shown that the labour market is strengthening - again. The inflation readings rerinforce the speculation of further rate...
Today is NFP, so gold is likely to consolidate around the central pivot. My expectation is that gold will continue to rise. A few days ago we had ADP employment. Some people say that NFP can be predicted based on ADP employment. In fact, most of the time the two readings are negatively correlated. The latest ADP reading was inflationary and gold fell 100 pips...
Gold has been rejected from "support" many times. The last time this happened, gold rallied. I have several reasons to believe that gold will go higher. It is hard to say if we will see a small dip before the rally because it is a new day, a new week and a new month. My strongest argument for higher prices is the current economic situation. Macroeconomics Bank...
Gold is still contained by the bullish channel, but in my opinion it will continue to fall. Next week is the last week of the month, so we can expect some crazy price action. On Friday, gold was heavily manipulated to the downside. I expect this manipulation to hold. The current target is the bottom of the channel where the 4H manipulation zone is. ...