Gold Trading Recommendation (17/10/2014)

The metal moved slightly to the downside yesterday but is still above 1236.15. Trading above the referred to level at 38.2% correction forces us to keep our positive expectations targeting 1269.15 and 1253.00 at 61.8% and 50% corrections consecutively. Linear Regression Indicators are positive, MACD and RSI tend to be positive forcing us to bet on an upside move.

From the downside, only a break below 1215.75 fails the current bullish wave, but we prefer to keep trading above 1236.15 to strengthen the bullish possibility intra-day today.

Support: 1236.15, 1231.05, 1226.60, 1220.00, 1215.75
Resistance: 1240.25, 1244.50, 1248.00, 1253.00, 1269.15

Recommendation Positive expectations above 1236.15, risk-limit below 1220.00.

Gold Trading Recommendation (05/05/2014)

The metal failed to remain stable below 1277.00 levels pushing it strongly to the upside and is trading above 1300.00 with the beginning of the week. Trading again above the referred to level is positive but confirming positivity requires stability above 1309.35. MACD is showing a new attempt to be positive and RSI 14 is trading above line 50, as Linear Regression Indicator 34 is still positive. All the referred to catalysts forces us to think that there is a bullish possibility this week that is confirmed by stabilizing above 1309.35.

Support: 1300.00, 1296.00, 1292.60, 1285.10, 1277.90
Resistance: 1309.35, 1315.00, 1323.20, 1330.00, 1339.35

Gold Trading Recommendation (05/05/2014) Based on the above, buy the Gold above 1300.00 targeting 1309.35 and 1323.20 then 1339.35 with stop-loss below 1285.10

Gold Trading Recommendation (02/05/2014)

The metal dropped during yesterday's trading session waiting to break 1277.00 levels to confirm the bearish possibility, but the price failed to do so. Despite that this possibility became valid after the positive divergence failed on MACD, but stabilizing below 1277.00 supports negativity because it takes the metal to trade below Linear Regression Indicators.

Support: 1280.00, 1277.90, 1272.00, 1266.55, 1262.00
Resistance: 1285.00, 1293.00, 1296.25, 1300.00, 1305.00

Recommendation Based on the above, sell gold at 1276.00, targeting 1272.00, 1262.00, then 1250.80, and stop-loss above 1296.25.

Gold Trading Recommendation (01/05/2014)

The metal is still fluctuating heavily between 50% correction at 1285.10 from the downside and the psychological resistance 1300.00 from the upside. MACD began trading sideways, as RSI is trading below line 50, but the price is stabilizing between the contradicted Linear Regression Indicator 34 and 55.

Support:     1285.00, 1280.00, 1277.90, 1272.00, 1266.55
Resistance: 1296.25, 1300.00, 1305.00, 1309.35, 1315.00

Gold Trading Recommendation (13/01/2014)

        

                
Support:       1241.00, 1236.50, 1234.10, 1224.70, 1215.00
Resistance: 1250.85, 1256.20, 1266.55, 1272.00, 1277.90

Gold Trading Recommendation (13/01/2014)Long above 1241.00, targets at 1256.20 and 1272.00 and 1293.15. Stop loss below 1215.00

Gold Trading Recommendation (08/01/2014)

Gold retreats after testing the 50-days SMA approaching the broken resistance at 1218.00-1220.00 level, which should limit further downside for the bullish correctional scenario to remain valid. We remain positive over intraday basis as long as price remains above 1220.00.

                             

Support:       1220.00, 1214.00, 1207.00, 1200.00, 1190.00
Resistance: 1227.00, 1232.00, 1240.00, 1248.00, 1252.00

Gold Trading Recommendation (08/01/2014) Long above 1220.00, targets at 1230.00 and 1245.0. Stop loss below 1212.00

Gold Trading Recommendation (07/01/2014)

Gold maintains the bullish bias after breaking above 1220.00 resistance level and neckline for a minor double bottom formation, to extend the upside towards the 50-days SMA where it found some resistance yesterday. The bullish bias may extend further probably for a retest of 1265.00 horizontal main resistance level. However, due to the resistance at the 50-days SMA we might see some intraday pullbacks before heading higher. Holding back below 1220.00 may result in resuming the bearish bias.

                          

Support:       1232.00, 1227.00, 1220.00, 1214.00, 1207.00
Resistance: 1248.00, 1252.00, 1258.000, 1265.00, 1270.00

Gold Trading Recommendation (07/01/2014) Long above 1232.00, targets at 1245.00 and 1260.00. Stop loss below 1219.0.

Gold Trading Recommendation (06/01/2014)

In line with our previous analysis, the metal has achieved noticeable upside actions after re-experiencing the pivotal support of 1180.00 as seen on the provided daily chart. However, being covered by SMA 50 and approaching the main short-term resistance line force us to stand aside until bulls prove the ability to resume the bullish recovery. A break back below 1220.00 will bring the bearish impetus back into focus.

                          

Support:      1220.00, 1209.00, 1195.00, 1180.00, 1160.00
Resistance: 1251.00, 1270.00, 1276.00, 1285.00, 1306.00

Gold Trading Recommendation (06/01/2014) :- Neutral

Gold Trading Recommendation (02/01/2014)

Gold is bounced strongly after testing 1180.00 major low on Tuesday, attempting to settle above 1220.00 resistance level, where stability above this resistance completes a bullish double bottom formation. The break above 1220.00 remains tentative, we would like to see a daily closing to confirm it, however, the bullish bias is favored today.

 Support:     1220.00, 1215.00, 1208.00, 1200.00, 1190.00
Resistance: 1230.00, 1243.00, 1250.00, 1258.00, 1268.00

Gold Trading Recommendation (02/01/2014) Long above 1218.00, targets at 1230.00 and 1250.00. Stop loss below 1205.00.

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

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 

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.