Gold Trading Recommendation (30/12/2013)

Gold retested 1220.00 broken support-turned-resistance level, where price was rejected at that resistance, attempting to resume the overall bearish bias. An that hints the correction may halt at this resistance and we may see another attempt lower this week. Holding below 1220.00 should keep the bearish bias intact, while a break above 1220.00 shall extend the upside correction towards 1250.00 areas.

Support:     1200.00, 1190.00, 1180.00, 1165.00, 1150.00
Resistance: 1210.00, 1220.00, 1230.00, 1243.00, 1250.00

Gold Trading Recommendation (30/12/2013) Short below 1215.00, targets at 1200.00 and 1185.00. Stop loss above 1227.00

Gold Trading Recommendation (27/12/2013)

Gold extends the rebound from the potential reversal zone of the ABCD harmonic pattern, where the pattern suggest a correctional move higher as long as 1180.00 major low in intact. We maintain our bullish bias for today as well.

Support:     1210.00, 1200.00, 1190.00, 1180.00, 1165.00
Resistance: 1220.00, 1230.00, 1243.00, 1250.00, 1258.00

Gold Trading Recommendation (27/12/2013) Long above 1205.00, targets at 1220.00 and 1240.00. Stop loss below 1190.00.

Gold Trading Recommendation (23/12/2013)

Gold moved slightly higher on Friday, after testing the 1.618 extension level for the BC leg of an ABCD formation, where the patterns completes near the major low at 1180.00. Accordingly, there is a potential for an upside correctional rebound this week, so long as 1180.00 low is intact over daily closing basis. A break below 1180.00 clears the way to resuming the overall bearish trend.

Support:     1190.00, 1180.00, 1165.00, 1155.00, 1150.00
Resistance: 1200.00, 1210.00, 1220.00, 1230.00, 1243.00

Gold Trading Recommendation (23/12/2013) Long above 1185.00, targets at 1200.00 and 1220.00. Stop loss below 1170.00.

Gold Trading Recommendation (20/12/2013)

Gold extended the bearish move approaching the major low at 1180.00, the bearish trend remains solid, and is expected to extend further for an imminent retest of 1180.00 support, strong sell off is expected on a break below 1180.00.

Support:    1190.00, 1180.00, 1165.00, 1155.00, 1150.00
Resistance: 1200.00, 1210.00, 1220.00, 1230.00, 1243.00

Gold Trading Recommendation (20/12/2013) Short below 1210.00, targets at 1190.00 and 1180.00. Stop loss above 1226.00

Gold Trading Recommendation (19/12/2013)

Gold breaks the minor ascending support shown on the hourly chart above, a continuation and a break below 1211.00 support and the floor of the sideways range would clear the way for further losses, probably towards the major low at 1180.00.

Support:     1220.00, 1210.00, 1200.00, 1190.00, 1180.00
Resistance: 1230.00, 1243.00, 1250.00, 1258.00, 1268.00

Gold Trading Recommendation (19/12/2013) Short below 1226.00, targets at 1211.00,1200.00 and 1180.00. Stop loss above 1241.00.

Gold Trading Recommendation (17/12/2013)

Gold retested 1254.00 resistance level yesterday, but was initially rejected, accordingly, holding below this resistance area keeps the bearish configuration intact, within the context of the overall bear channel.

Support:     1243.00, 1235.00, 1230.00, 1220.00, 1211.00
Resistance: 1250.00, 1258.00, 1268.00, 1275.00, 1280.00
  
Gold Trading Recommendation (17/12/2013)  Short gold below 1253.00, targets at 1240.00.1225.00 and 1211.00. Stop-loss above 1270.00

Sliver Trading Recommendation (17/12/2013)

Silver pushed higher, trading above 20.00 level, but remains below the key resistance at 20.50-20.60 area, as long as this resistance is intact the bearish bias should remain dominant, while on a break above 20.60 may see further correctional movement.

Support:     20.00, 19.75, 19.55, 19.15, 18.90
Resistance: 20.25, 20.50, 20.60, 20.75, 21.00

Sliver Trading Recommendation (09/12/2013) Short below 20.25, targets at and 19.50 and 18.80. Stop loss above 20.70.

Gold Trading Recommendation (16/12/2013)

Gold moved slightly higher on Friday, correcting some of earlier losses, however price remains within bearish trend, below the key resistance area among 1254.00-1268.00, accordingly, we remain bearish for this week.

   

Support :   1230.00, 1220.00, 1211.00, 1205.00, 1196.00
Resistance: 1235.00, 1243.00, 1250.00, 1258.00, 1268.00

Gold Trading Recommendation (16/12/2013) Short gold below 1240.00, targets at 1225.00 and 1211.00. Stop-loss above 1258.00

Gold Trading Recommendation (13/12/2013)

Gold failed to hold above 1238.00 and that makes us access the descending channel shown on graph.Gold must hold below 1218.00 to confirm negativity. Stochastic is biased to the downside and RSI is trading below 50. We expect gold to move to the downside today where the extent of bearishness depends on the breakout below 1218.00.

Support:     1220.00, 1218.00, 1211.00, 1205.00, 1196.00
Resistance: 1230.00, 1235.00, 1243.00, 1250.00, 1258.00

Gold Trading Recommendation (13/12/2013) Sell gold below 1229.00 targeting 1218.00, 1211.00 then 1196.00 and stop-loss above 1246.00

Gold Trading Recommendation (12/12/2013)

Gold retraced slightly yesterday, but trading was within a very tight range above 1250.00 support area, accordingly, we still see further upside as breaking above 1250.00 indicates further correctional upside.

Support:     1250.00, 1243.00, 1235.00, 1230.00, 1220.00
Resistance: 1258.00, 1268.00, 1275.00, 1280.00, 1290.00

Gold Trading Recommendation (12/12/2013) Long above 1250.00, targets at 1258.00,1268.00 and 1275.00. Stop loss below 1238.00.

Gold Trading Recommendation (10/12/2013)

Gold is pushing towards 1250.00 key resistance level, which should limit the upside move and force the price back lower within downtrend. Otherwise, a break above 1250.00 would signal further correctional recovery within the context of the bear channel.

Support:     1235.00, 1230.00, 1220.00, 1210.00, 1200.00
Resistance: 1243.00, 1250.00, 1258.00, 1268.00, 1275.00

Gold Trading Recommendation (10/12/2013)  Short below 1250.00, targets at 1230.00 and 1215.00. Stop loss above 1260.00 

Sliver Trading Recommendation (09/12/2013)

Silver may recover some of its recent losses, for as a possible retest of 20.50 broken major support. Breaking below 18.90 would negate the bullish recovery scenario.

Sliver Trading Recommendation (09/12/2013) Long above 19.30, targets at 19.80,20.00 and 20.40. Stop loss below 18.80

Gold Trading Recommendation (09/12/2013)

Gold maintained the fluctuating stance below 1250.00 key resistance on Friday, trading in a sideways but with a slight bearish bias recently, accordingly the bearish wave continues to be intact, and further downside remains the most likely scenario for the week, unless price manages to take 1250.00 level, and that would suggest a short term bullish recovery.

Support :    1220.00, 1210.00, 1200.00, 1190.00, 1180.00
Resistance: 1230.00, 1235.00, 1240.00, 1250.00, 1258.00

Gold Trading Recommendation (09/12/2013) Short below 1243.00, targets at 1230.00 and 1215.00. Stop loss above 1258.00.

Gold Trading Recommendation (06/12/2013)

Gold fluctuated yesterday, failed to maintain the earlier rebound, where failure to maintain a directional bias over intra-day basis forces us to move to the sidelines.

Support :     1220.00, 1210.00, 1200.00, 1190.00, 1180.00
Resistance: 1230.00, 1235.00, 1240.00, 1250.00, 1258.00 


Gold Trading Recommendation (06/12/2013) Long above 1230.00, targets at 1240.00 and 1250.00. Stop loss below 1220.00