Gold Price breaks a month-old bearish channel towards the south and suggests further downside past the latest three-month low surrounding $1,920. However, the oversold RSI conditions keep offering intermediate bounces as the bullion drops towards the 61.8% Fibonacci Expansion (FE) of May 15 to June 16 moves, near $1,907. Following that, the $1,900 round figure may...
Gold is clearly on sell pressure and we can expect more decline
The red flags have been mounting in gold for a few weeks now - and likely to no surprise to regular readers, my opinion continues to reflect caution; today, more so than over the last month. The below daily chart shows the rejection at the prior upward trendline proving itself stiff. The $1930 spot is once again broken to the downside, and daily momentum looks on...
Attached: COPPER/ SILVER Daily Chart as of 20th June 2023 The Ratio has given a Breakout from a Cup & Handle/ VCP Pattern today Within the Commodity space it appears that Base Metals are doing better than Precious Metals And so this Ratio can head higher to retest the 0.5 Fibo retracement level as the 1st Upside Target (marked on chart with arrow) Technical...
GOLD Buy trade opportunities The gold market has been experiencing a strong bullish trend but currently is taking a retracement. I have identified a support area, and if the market reaches this level, it could present a promising opportunity for a long trade.
As we can see that metal and paper sector may lead this Rally.So have eye on this too
World gold prices stand at $1,947, a $10 decrease from yesterday morning. The question now is what will cause gold to break out of the trading range between $1,940 and $1,980, as last week's economic events failed to meet expectations. The recovery of the USD has put pressure on gold. This morning, the US Dollar Index, which measures the fluctuation of the...
Gold prices could remain in neutral territory in the near term, unable to push to $2,000 an ounce as the marketplace sees lackluster bullish sentiment. While gold prices are ending the week in neutral territory, bouncing from a three-month low following the Fed decision, analysts are not expecting to see any significant price action in the near term. Need to get...
Silver actionable demand and supply zones are marked in the chart above. Generally price may reject from supply zone and price may bounce back from demand zones. In case price breaks out or breaks down the zones then we may see the strong price momentum on either side. Do your research before placing any trade.
The current global gold price stands at $1,961, a strong increase of $26 compared to yesterday morning. After a sharp decline yesterday, gold has regained its position by rising significantly since last night. This has made experts more optimistic about gold, with forecasts that the precious metal will sustainably rise above $2,000. Recently, experts from the...
Short silver if manages to close below support region. target or next immediate support of silver is marked in the chart.
Bearish Butterfly In Copper Sell PRZ - 731.25/731.7 SL - 734.1 Target - 728/726.5
Market Reactions to Fed’s “Hawkish Pause” Today the Federal Reserve chose not to proceed with an 11th consecutive interest rate hike, opting instead to assess the effects of the previous 10 hikes. However, the Fed announced that it anticipates implementing two additional quarter percentage point increases before the year concludes. While the pause was largely...
Copper has just crossed above a key pivot level on the hourly time frame. This levels has been tested on both sides as support and resistance earlier and hence it is an important level. The next level is roughly 2% away, thus it is logocal to think that we can get a rally of roughly 14 point in copper in mcx from here. The mcx copper is at 731 and hence the target...
Gold prices are preparing for another important event - the US Federal Reserve's (Fed) day. The rising yields of US Treasury bonds are causing the US dollar to weaken, allowing gold prices to rise slightly. The US Bureau of Labor Statistics (BLS) reported on Tuesday that the US Consumer Price Index (CPI) increased by only 0.1% in the month, resulting in a sharp...
Copper has just crossed above a key pivot level on the hourly time frame. This levels has been tested on both sides as support and resistance earlier and hence it is an important level. The next level is roughly 2% away, thus it is logocal to think that we can get a rally of roughly 14 point in copper in mcx from here. The mcx copper is at 731 and hence the target...
Gold prices continued to drop significantly this morning, with spot gold falling $13.4 to $1,943 and August futures trading at $1,956, down $14 from the previous day. This decline is due to reevaluation of rate expectations after the Fed's decision last week. The latest inflation report shows a mixed outlook for the US. While the CPI index has dropped to a low of...
If silver manages to close below 72733, we may witness a huge fall. expected targets are marked in green line on the chart. which may also act as a support.