From Gold Jun 03, 2013 09:49 pm
Unless GOLD re-establishes its corrective recovery triggered from the 1,338/21 levels, there is risk of a return to that level in the new week. Below here if seen will aim at the 1,300.00 level and possibly lower towards the 1,270 level. On the upside, resistance comes in at the 1,444.00 level where a break will aim at the 1,488.00 level. Further out, resistance is seen at the 1,590.
From Gold May 29, 2013 01:51 am
Gold is lower in all major currencies except the yen which is under pressure today due to 'Abenomics' concerns and concerns of further yen debasement.
From Gold May 28, 2013 11:01 pm
1H Range: In the 1H gold chart, you can see a market settling in a range with resistance around 1400, and support around 1355. As we begin the 5/28 US session, gold is trading in the middle of this range, finding some support so far after a dip to 1377.30, a previous support pivot, and central pivot of the range.
From Gold May 14, 2013 10:59 pm
Unless the commodity returns above the 1,488.00 level, there is risk of further downside in the days ahead. On the downside, support comes in at the 1,403.66 level where a breach will target the 1,385.00 level. A violation will aim at the 1,350 level and then the 1,321.79 level. On the upside, GOLD will have to return above the 1,488.00 level to resume its recovery.
From Gold May 08, 2013 11:05 pm
Consolidation: The 1H gold chart shows a market that remains in consolidation since finding resistance around 1485. Trading at the end of the 5/7 session and the beginning of the 5/8 session supported gold where it showed support at the beginning of May - around 1440. A return to the middle has a near-term target of 1460-1465 for the start of the 5/8 session, near the 200-hour SMA.
From Gold May 06, 2013 10:24 pm
The commodity has run into the bears, halting it recovery and closing marginally lower the past week. A failure to resume that recovery in the new week could see GOLD return to the downside. Support lies at the 1,403.66 level where a violation will aim at the 1.385 level and then the 1,321.79 level.
From Gold Apr 26, 2013 11:38 pm
Correction during downtrend: Since I noted a break above a 1403 resistance pivot XAU/USD has been slowly rallying in the context of a correction against the downtrend in 2013 that started in October 2012. You can tell it is a downtrend because the 200-4H SMA is downsloping, and the other moving averages were in bearish alignment until the recent correction caused the lower period MAs to cross.
From Gold Apr 22, 2013 10:54 pm
The commodity sold off further the past week testing a low of 1,321.17 level and opening the door for downside. This leaves GOLD targeting the 1,300.00 level where we may see a halt in declines but if broken, expect more weakness to occur towards the 1,250.00 level and then the 1,200.00 level. Its weekly RSI is bearish and pointing lower supporting this view.
From Gold Apr 15, 2013 11:15 pm
The bloodbath in commodity markets that started on Friday has accelerated at the start of a new week. The selloff has been aggressive, suggesting that this is not just a mere correction, but rather the start of a potential downtrend in commodities. For example, the gold price has fallen nearly $100 so far today.
From Gold Apr 08, 2013 10:51 pm
Support resides at the 1,540 level where a violation will pave the way for a run at the 1,530.00 level. Further down, support comes in at the 1,500.00 level, its psycho level. We expect a price hesitation to occur here if tested but if broken we could see further weakness towards the 1,478.05 level. Its weekly RSI is bearish and pointing lower supporting this view.