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Forexyard gold analysis

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forexyard gold analysis

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Bullion and Energy Market Commentary Analysis Commodity Technical Analysis Written by HY Markets Wed Jun 14 17 Anyway, the commodity trimmed all of its daily losses, ending the day pretty much flat at 1, Gold looks vulnerable from a technical point of view, after further retreating from an approach to the 1, mark late May, although the downward strength has decelerate this week, according to the daily chart, where technical indicators have turned horizontal around their mid-lines, and with the price right below a horizontal 20 DMA, but above the and DMAs. Shorter term, the 4 hours chart, shows that the price retreated after testing the 20 and SMAs, both converging around 1, Home Newsletters RSS About Us Risk Warning Privacy Policy Disclaimers Contact Us Site Map. Quick Links FREE Newletters RSS Feeds Price Charts Pivot Points Market Bias Economic Calendar Analysis Commentaries Gold: Energy and Precious Metals Technical Analysis Bullion and Energy Market Commentary. Analysis Commodity Technical Analysis Written by HY Markets Wed Jun 14 17 Bullion and Energy Market Commentary. Analysis Commodity Technical Analysis Written by HY Markets Tue Jun 13 17 Gold prices saw little action at the beginning of the day, ending it flat despite generally stronger base metals. In Asia, the commodity edged lower for a fourth consecutive day, amid low demand from local jewelers and retailers. Daily basis, the metal closed right below its 20 SMA, while technical indicators have kept retreating within positive territory, now resting around their mid-lines. In the same chart, the and DMAs stand flat below the current level, all of which indicates fading upward momentum, but is not enough to confirm an upcoming decline. In the 4 hours chart, the price remained stuck around its SMA, while the 20 SMA maintains its bearish slope above the current level as technical indicators head nowhere within negative territory. Analysis Commodity Technical Analysis Written by HY Markets Mon Jun 12 17 The bright metal was undermined by resurgent dollar's demand after risk events in the EU ended up weakening local currencies. The daily chart shows that the commodity settled around its 20 SMA, while technical indicators have turned sharply lower, and are currently nearing their mid-lines, indicating that further declines ahead are likely. In the 4 hours chart, the decline is set to continue, as the 20 SMA turned sharply lower well above the current price, whilst technical indicators resumed their declines near oversold readings. Friday's low of 1, Analysis Commodity Technical Analysis Written by HY Markets Fri Jun 09 17 The dollar edged higher against most of its major rivals following ECB's monetary policy announcement, which fell short from indicating normalization is on the Central Bank agenda. The ECB partially dropped its easing bias, by removing the reference to lowering rates, but maintained QE alive and kicking, while downgrading inflation forecasts for this year and the coming ones. The daily chart shows that the commodity held above a still bullish 20 DMA, currently at 1, In the 4 hours chart, however, the technical outlook is bearish, as the metal trades below a flat 20 SMA, whilst the RSI indicator consolidates around 45 and the Momentum indicator heads south at fresh one month low, supporting additional declines for this Friday. CRUDE OIL - Sells Off, Looks To Weaken Further. Analysis Commodity Technical Analysis Written by FXTechStrategy Thu Jun gold 17 CRUDE OIL - The commodity continues to retain its downside pressure selling off strongly on Wednesday. This has opened the door for analysis weakness. On the downside, support resides at the A cut through here will set the stage for a run at the Further down, support resides at the On the upside, resistance resides at the forexyard Further out, resistance comes in at the A break above here will aim at the All in all, CRUDE OIL remains biased to the downside. Analysis Commodity Technical Analysis Written by HY Markets Wed Jun 07 17 Spot gold surpassed its previous high by a few cents this Analysis, as political uncertainty fueled demand for the safe-haven commodity. Mounting geopolitical tensions in the Middle East alongside with cautious mood ahead of the upcoming US ex-FBI director Comey before the US Senate, favored the bright metal. Having stalled below the 1, Shorter term, and according to the 4 hours chart, the upside is also favored, as the 20 SMA gathered upward momentum well below the current level, whilst technical indicators have forexyard from extreme overbought readings, but remain well into positive territory, and far from suggesting an upcoming downward corrective move. Analysis Commodity Technical Analysis Written by HY Markets Tue Jun 06 17 The commodity rallied after US employment data disappointed, as doubts arose about Fed's upcoming decisions on tightening. A June rate hike has been largely priced in, but has now become less of a certainty, while speculative interest is questioning if the US Central Bank will be able to maintain its tightening policy, particularly if data remain soft. Gold is bullish according to technical readings in the daily chart, as the price accelerated above a bullish 20 SMA that is advancing above the larger ones, whilst the RSI indicator turned north, now around 63, its highest since last April. In the 4 hours chat, the SMA is crossing above the SMA far below the current level, also below the 20 SMA, while technical indicators lost upward strength near overbought territory, but are far from suggesting an upcoming downward move. GOLD - Retains Its Upside Pressure. Analysis Commodity Technical Analysis Written by FXTechStrategy Sun Jun forexyard 17 GOLD - The commodity continues to hold on to its upside pressure short term leaving risk higher in the new week. On the downside, support comes in at the 1, Further down, a cut through here will open the door for a move lower towards the 1, Below here if seen could trigger further downside pressure targeting the 1, Conversely, resistance resides at the 1, A turn above there will expose the 1, Further out, resistance stands at the 1, All in all, GOLD looks to strengthen further in the new week. Analysis Forexyard Technical Analysis Written by HY Markets Fri Jun 02 17 The commodity held steady after reaching a fresh 1-month high on Wednesday, easing modestly amid a stronger greenback and resurging optimism among stocks' traders. Still, investors remained in cautious mode ahead of the NFP report and upcoming events this June, including the UK election and the US Fed meeting. From a technical point of view, the commodity remains in positive territory but losing upward potential, as in the 4 hours chart, the price remains well above its moving averages, although technical indicators hover within positive territory, turning modestly lower but with not enough strength to support a downward move. In the 4 hours chart, the price is hovering around a flat 20 SMA, whilst technical indicators turned north around their mid-lines, but remain below previous weekly highs, suggesting that a break above the high set at 1, Analysis Commodity Technical Analysis Written by HY Markets Thu Jun 01 17 Weak US data weighed on the greenback, with investors now speculating whether the Fed will be able to act this June, and if it does as a matter of credibility, how long will it take to move rates again. The sour tone of equities, also backed the safe-haven metal. Gains have been moderated, but the daily chart supports additional advances given that technical indicators have turned back north near overbought readings, whilst the price holds above bullish moving averages. In the 4 hours chart, the price surpassed a bullish 20 SMA, now offering an immediate support at 1, The commodity has scope to extend its advance up to 1, Analysis Commodity Technical Analysis Written by HY Markets Wed May 31 17 Political jitters and physical demand should back gold gold during the upcoming sessions, as during the weekend, North Korea issued another missile test that landed in the Sea of Japan, whilst Asian buyers will boost demand ahead of the wedding season. Also, the US will release its PCE index this Tuesday, Fed's favorite inflation measure, and higher than expected readings may cap advances on mounting speculation about a rate hike this month. Technically, the daily chart shows that the price holds well above their moving averages, whilst technical indicators have lost their upward strength, consolidating near overbought levels. In the 4 hours chart, the technical picture is neutral-to-bullish, as the price is also standing above its moving averages, with the 20 SMA heading north and providing an immediate support at 1, Analysis Commodity Technical Analysis Written by HY Markets Tue May 30 17 GOLD - Risk Remains Higher On More Strength. Analysis Commodity Technical Analysis Written by FXTechStrategy Sun May 28 17 GOLD - The commodity continues to hold on to its upside pressure short term. All in all, GOLD looks to weaken further. Analysis Commodity Technical Analysis Written by HY Markets Wed May 24 17 There were little news affecting particularly gold, and those released, were in fact gold positive, as Fed's Kashkari made some dovish comments, expressing concerns over the recent decline in core inflation, and therefore weighing on chances of a rate hike next June. Nevertheless, the commodity fell, as the dollar gathered momentum against most of its rivals during gold US afternoon. Technically, the daily chart shows that indicators have turned south within positive territory, whilst the price holds above its 20 and DMAs, both converging today at 1, Shorter term, and according to the technical picture has turned bearish, given that technical indicators have entered negative territory, maintaining their downward strength, whilst the price broke below its 20 SMA, now flat around 1, Analysis Commodity Technical Analysis Written by HY Markets Tue May 23 17 Speculative interest continued dumping USD-related assets, favoring an advance in the safe-haven commodity, despite improved market sentiment. The dollar index fell to a fresh low of Gold managed to shrug off Fed's rate hikes rhetoric, as Kaplan hit the wires by saying that three hikes remain appropriated. From a technical point of view, the daily chart shows that the index advanced above still directionless moving averages, although held below last week's peak of 1, In the 4 hours chart, technical readings point to further gains, with the price now above its moving averages, and technical indicators heading north within positive territory. GOLD - Remains Biased To The Upside On Correction. Analysis Commodity Technical Analysis Written by FXTechStrategy Sun May 21 17 GOLD - The commodity closed higher the past week leaving risk higher. All in all, GOLD looks to strengthen further. Analysis Commodity Technical Analysis Written by HY Markets Thu May 18 17 The commodity has broken above all of its moving averages in the daily chart that anyway remain flat, as the movement was quite abrupt, whilst technical indicators turned sharply higher, entering positive territory analysis suggesting a possible upward extension for the upcoming sessions, moreover if the political turmoil persist. In the shorter term, the 4 hours chart also favors additional gains, as technical indicators have barely pulled back within overbought territory before losing downward strength, whilst the price has settled above all of its moving averages, with the 20 SMA accelerating north, but still below the larger ones. Analysis Commodity Technical Analysis Written by HY Markets Wed May 17 17 The bright metal has posted a limited recovery ever since bottoming at a two-month low of 1, From a technical point of view, the pair has pared its advance right below a horizontal DMA, but advanced above its DMA for the first time in over a week, while it remains below a strongly bearish 20 DMA, this last at 1, Technical indicators in the mentioned time frame remain within negative territory, with the RSI heading higher around 45, but the Momentum showing no certain directional strength. In the 4 hours chart, a positive tone prevails, with the price above a bullish 20 SMA, and indicators presenting a neutral-to-bullish stance within positive territory. Analysis Commodity Technical Analysis Written by HY Markets Tue May 16 17 Broad dollar's weakness was behind the early decline, but slipped on low physical demand and a bounce in the Forexyard currency. The daily chart shows that the price settled around a bearish DMA after failing around the DMA, whilst the 20 DMA maintains a strong bearish slope well above this last. In the same chart, technical indicators have lost upward strength and turned flat within bearish territory, suggesting the latest recovery was unsustainable and that the risk remains towards the downside. In the 4 hours chart, the 20 SMA heads higher below the current level, providing support at 1, GOLD - Hesitates, Closes Higher. Analysis Commodity Technical Analysis Written by FXTechStrategy Sun May 14 17 GOLD - The commodity halted its weakness to close higher the past week. All in all, GOLD looks to weaken further but with caution. Unless otherwise noted, data provided is delayed at least 10 minutes and is considered to be accurate, but is not warranted or guaranteed by OilnGold. There is a substantial risk of loss in trading futures and options. Do not risk money you cannot afford to lose. Refresh your screen for the latest information. forexyard gold analysis

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