Gold

Morning Report

The metal has moved mildly to the upside during the Asian session but trading continued below SMA 50 and below the initial resistance of 1665.00 where B point of the suggested Crab pattern exists. In the interim, SMA 50 -colored in red- is covering the movements as well but the positivity on Vortex in addition to the shaky sign of Stochastic are reasons that force us to stay aside today; noting that a daily closing above 1665.00 will damage our harmonic structure. On the downside, clearing 1628.00 will activate the bearishness of the CD leg.   

The trading range for today is among the key support at 1607.00 and key resistance now at 1703.00.

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)