Gold Trend 07/06 - 11/06 (Review Daily)
Gold rebounded from the 2-week low last Friday. Pressure by the selling from the night before, the gold price has dropped to 1855 early in the Asian session. But it has rebounded and stayed above the 1870(1) support in the European session. Quickly after the US employment figures, the price reached day-hihg 1896 with the week ended near 1889.
An S-T bottom has been formed near 1870 after the rebound last Friday. We can expect the price to be bounded within zone (4) by the S-T resistance line(3) and the support near 1880.
The market has triggered a round of selling after the price broke the support of line(4). On the daily chart, the price has quickly touched line(5) and rebound. So far, the price is trading below the 1890-1910 zone, before any breakout, the price should be bounded by the 5 days(6) and the 10 days(7) MA for today.
S-T Resistances:
1900
1895
1889-90
Market Price: 1887
S-T Resistances:
1880
1875
1870
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
An S-T bottom has been formed near 1870 after the rebound last Friday. We can expect the price to be bounded within zone (4) by the S-T resistance line(3) and the support near 1880.
The market has triggered a round of selling after the price broke the support of line(4). On the daily chart, the price has quickly touched line(5) and rebound. So far, the price is trading below the 1890-1910 zone, before any breakout, the price should be bounded by the 5 days(6) and the 10 days(7) MA for today.
S-T Resistances:
1900
1895
1889-90
Market Price: 1887
S-T Resistances:
1880
1875
1870
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
Kommentera:
Gold once again rejected by 1900 yesterday. The uplifting momentum has slowed down after the price escaped the S-T support line(1) in the Asian session. Price sank below 1895 and the day ended at 1891.
The S-T trend has shifted from upward to horizontal. Before a new S-T trend is formed, the price should trade between 1880-1910(3).
Gold maintains its path with 1890-1910 on the daily chart(4). S-T high/low are now set at 1880/1903.
S-T Resistances:
1908
1900
1895
Market price: 1893
S-T Supports:
1890
1884
1880
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
Gold once again rejected by 1900 yesterday. The uplifting momentum has slowed down after the price escaped the S-T support line(1) in the Asian session. Price sank below 1895 and the day ended at 1891.
The S-T trend has shifted from upward to horizontal. Before a new S-T trend is formed, the price should trade between 1880-1910(3).
Gold maintains its path with 1890-1910 on the daily chart(4). S-T high/low are now set at 1880/1903.
S-T Resistances:
1908
1900
1895
Market price: 1893
S-T Supports:
1890
1884
1880
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
Kommentera:
The trend hasn't changed much in the past 24 hours in the 1-hr chart. We are expecting some major fluctuation in the coming US session. But before gold breaks any support or resistance, the price should maintain its path within 1883-1903 and the S-T resistance line(1) is still valid.
Gold is still trading in a tight range 1883-1903 on the daily chart. The price is supporting by the 20 days MA with the next support at line(3); on the other hand for the upside, if the price resumes its climb, the target can be set near 1930 or higher.
S-T Resistances:
1900
1895
1890
Market Price: 1887
S-T Supports:
1884
1880
1875
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
The trend hasn't changed much in the past 24 hours in the 1-hr chart. We are expecting some major fluctuation in the coming US session. But before gold breaks any support or resistance, the price should maintain its path within 1883-1903 and the S-T resistance line(1) is still valid.
Gold is still trading in a tight range 1883-1903 on the daily chart. The price is supporting by the 20 days MA with the next support at line(3); on the other hand for the upside, if the price resumes its climb, the target can be set near 1930 or higher.
S-T Resistances:
1900
1895
1890
Market Price: 1887
S-T Supports:
1884
1880
1875
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
Kommentera:
The price has fallen to 1869 before the US session opening yesterday, but it rallied from the weekly low right after the US CPI figures, and the market ended near day-high around 1898. Although gold is now back to the 1880-1910 price range and broke the resistance line(1), the rebounding momentum from 1869 is not strong at all yesterday. S-T the price might touch the upper resistance of the range, but it should be hard to break through this barrier without additional stimulation.
Once again, the price touched the M-T support line(3) on the daily chart and rebound quickly. The S-T trend is trading sideways for now, but the pattern and the formation of the rebounds(2) are indicating a sign of the bull in M-T.
S-T Resistances:
1900
1895
1890
Market price: 1889
S-T Supprots:
1884
1880
1875
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
The price has fallen to 1869 before the US session opening yesterday, but it rallied from the weekly low right after the US CPI figures, and the market ended near day-high around 1898. Although gold is now back to the 1880-1910 price range and broke the resistance line(1), the rebounding momentum from 1869 is not strong at all yesterday. S-T the price might touch the upper resistance of the range, but it should be hard to break through this barrier without additional stimulation.
Once again, the price touched the M-T support line(3) on the daily chart and rebound quickly. The S-T trend is trading sideways for now, but the pattern and the formation of the rebounds(2) are indicating a sign of the bull in M-T.
S-T Resistances:
1900
1895
1890
Market price: 1889
S-T Supprots:
1884
1880
1875
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
P. To
Gold gained slightly yesterday. In line with our expectation, the price had traded within the triangle pattern(1) throughout the day, with the price reached day-high 1900 breaking the resistance line(2) at day end. As the price has escaped the triangular structure(1), the trading zone for today should shift to 1895-1915(4.1). Notice, a new S-T support line(3) has formed in the past 48 hours. However, the price movement was tight in the gold market limiting the gain, if the price cannot climb above 1900 in the coming European session, the price will move further away from the upward trendline(3). The key support is now at 1895, the range will shift back to 1880-1895(4.2) if the price fall below 1895 today.
Buying is once again hesitating to enter the market while the price trades near 1900. The price is once again back to the range 1890-1910(4) on the daily chart, S-T is now supporting at the 5 days MA 1892.
S-T Resistances:
1910-12
1908
1900
Market Price: 1896
S-T Supports:
1895
1890
1884
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To