Gold

Morning Report

The sharp bounce from 1560.00 continued while we have been able to catch a potential bullish harmonica pattern connected by the above seen Fibonacci rhythmic. The metal is presently approaching the first technical objective of the pattern at 38.2% Fibonacci retracement of CD leg. Assessing indicators, Stochastic continued offering positive sign; whilst Vortex contradicts it by presenting a bearish sign. Since risk versus reward ratio is high, we will stay aside over intraday basis. Breaching through 1638.00 with a daily closing will bring more bullishness.

The trading range for today is among the key support at 1575.00 and key resistance now at 1673.00.

The general trend over the short term basis is to the upside targeting 1945.00 per ounce as far as areas of1475.00 remain intact with weekly closing.

Previous Report

Weekly Report

• Gold Pressured By Bearish Outside Markets   (2016-11-01 03:50:56)
• Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate   (2016-07-12 17:27:51)
• Direction: neutral   (2016-07-01 16:54:07)
• Direction: neutral   (2016-06-30 15:17:32)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-30 05:32:18)
• Direction: Bullish above 1317.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-28 05:40:46)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1280.00   (2016-06-24 20:25:31)
• Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00   (2016-06-23 19:20:37)
• Direction: Bearish below 1262.00, targeting 1252.00 and 1240.00 as long as the price trading below 1280.00   (2016-06-22 14:56:10)
• Direction: neutral   (2016-06-20 20:28:46)