Gold Analysis

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Gold was in a strong and consistent downtrend during the recent Days that sellers were successful in obtaining the lowest price of 1241.712.Currently price in long term time frames like weekly and daily time frames is under 5 day moving average which shows a consistent descending trend in long period of time. As it is obvious in the picture below between the top price of 1330.949 and the bottom price of 1241.712, there is a none AB=CD harmonic pattern with the ratios of 76.4 and 161.8 that with completion of the D point (also formation of butterfly pattern), there is a potential for ascending of price.RSI indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about ascending of price during the next candles. According to the current condition of price, the first warning for Ascending of price is breaking of the resistance level of 1250.826.

Technical Analysis of Gold dated 2014.06.03

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As it was mentioned in the previous technical analysis of Gold dated 2014-06-03, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful in achieving the highest price of 1263.59 .Right now price is above 5-day moving daily time frame that show an uptrend during the next candles. According to the formed movements in price chart, between the top price of 1388.86 and the bottom price of 1240.73, there is a none-ideal AB=CD harmonic pattern with the ratios of 50% and 161.8% that warns about ascending of price from D point.
Stoch indicator with the ascending cycle confirms the D point of AB=CD harmonic pattern and warns about the potential of ascending during the next candles. If price rises and buyers success first of the price targets would be alterant level (Change of polarity)of 1269.54.Right now in long term time frames such as Monthly and weekly, there is not any clear reason for decreasing of the price and generally until the mentioned bottom price is preserved, there is the potential for downtrend reformation.

Technical Analysis of Gold dated 2014.06.10

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As it was mentioned in the previous technical analysis of Gold dated 2014.06.10, according to the formed signs, there was a potential for ascending of price which finally happened. Buyers were successful in reaching to the highest price of 1333.332 and the price is above 5-day moving. Currently in long term time frames such as monthly and weekly price is above 5-day moving average that shows a consistent uptrend in long period of time and there is not any clear reason about descending of price in these time frames.

According to the formed movements, there is AB=CD harmonic pattern with ideal ratios of 50 and 200 between the bottom price of 1240.549 and the top price of 1333.332 that warns changing price direction from D point of this pattern. RSI indicator is in saturation sell area and in divergence mode with the price chart that confirms the current top price and warns about more descends. Generally according to the current situation in 4H time frame until the top price of 1333.332 is preserved, price will have the potential of descending but according to the potential of ascending in long period of time, the descending of price is temporary and unstable.

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Silver was in a descending trend from the top price of 21.559 that could record the bottom price of 19.297. Right now this bottom price is fixed by the next ascending candles and is the next nearest supportive level. If this supportive level breaks , the price will have the potential of reaching to the important supportive level of 18.852.

as it is obvious in the picture below, the price in a Down channel during its descending trend that the Resistance level of this channel prevent it from a rise for several times and each time the price has descended.In daily time frame there is a Inverted hammer candlestick pattern (also a Spinning top pattern) that shows the sellers retreat for reaching to the lower prices that it needs confirming with closing of an ascending candle.In case of ascending of the price, one of the buyers target will be the Down Trendline.

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Gold during the recent week was in a strong and consistent downtrend that sellers were successful in achieving the lowest price of 1257.196.Right now price in long time frames such as monthly, weekly and daily is under 5-day moving average and warns about price decrease in long period of time.As it is obvious in the picture below, there is a harmonic Gartley pattern between the top price of 1344.976 and the bottom price of 1257.196 that there is a potential for changing price direction from D point ( Morning doji Star Pattern) of this pattern.

RSI indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about ascending of price during the next candles.Generally until the price level of 1257.196 is preserved, price will have the potential for reformation and ascending.

Technical Analysis of Gold dated 2014.09.05

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Gold since 2014.07.11 till now was in a strong and consistent Downtrend that Sellers were able to achieve the lowest price level of 1204.700.With cashing of some sellers’ trades (formation of candlestick pattern( Spinning top) in weekly time frame) the price ascends and currently with closing of bullish candle on first day records the bottom price of 1204.700.According to the formed price movements, RSI indicator is in saturation sell area and in divergence mode with the price chart that confirms the bottom price of 1204.700 and warns about changing price direction.

As it is obvious in the picture below, according to the formed movements in the chart there is AB=CD harmonic pattern with ratios of 61.8 and 127.2 between the top price of 1391.622 and bottom price of 1204.700 that warns about ascending of the price by completion of the D point. Also in CD wave of the mentioned pattern, there is another harmonic pattern (butterfly) that warns about the potential of changing price direction from the green area.Generally until the bottom price of 1204.700 is preserved, the price has the potential for ascending from the harmonic patterns.

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Gold had a strong and without reformation descending trend during the recent weeks and could record the bottom price of 1132.099 .According to the strong downfall of price from the top price of 1344.995, it seems that the price is saturation sell area and there is the possibility of price reformation.In weekly time frame with the types of price movements in previous week, hammer candle stick pattern has appeared that warns the formation of a bottom price and the failure of sellers in reaching to the lower prices.

As it is obvious in the picture below, there is butterfly harmonic pattern between the top price of 1433.090 and the bottom price of 1132.099 that there is a potential for ceasing of price from D point of this pattern.Generally according to the recent strong descending trend until the bottom price of 1132.099 is preserved, there is the potential for price reformation in this chart.

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GOLD - 01.12.2014

Gold is having one of the highest daily gains on record as it climbs almost 4%. The yellow metal hit a fresh high at $1221/oz and remains above $1215, consolidating important gains and about to post the strongest close since October 28.
XAU/USD dramatic reversal
Initially a weak US dollar pushed gold to the upside, but then greenback stabilized in the market and XAU/USD kept rising, even accelerating above $1200.
Today’s rally is even more impressive considering that gold started the day falling to $1142, the lowest price in three weeks. From there has risen almost $80 and climbed to 1-month highs.

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As it is mentioned in previous technical analysis of this metal in 17.11.2014, according to the symbols that were formed in the chart, it was possible that the price in this metal decreases and finally it happened(max=1220.872). Price during the downfall with reaching to the Up Trendline(made of 2 bottom prices) and support level (R=S) of Andrews’ Pitchfork has stopped from more descend and has formed a bottom price(Hammer patterns) in the level of 1132.765.

As it is obvious in the picture below, price with formation of AB=CD harmonic pattern with ideal ratios of 76.8 and 127.2 has prepared the field for ascending of the price from bottom price of 1132.765 that finally happened.RSI indicator in weekly time frame is in saturation sell area and in divergence mode with the price chart that with the next cycle confirms the current bottom price and warns about the potential of ascending during the next candles.The first important warning for descending of the price is breaking of Up Trendline. Generally until the bottom price of 1132.765 is preserved, there is the possibility of increase and ascend of price.

Gold Chart 2014.12.02

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Technical analysis of Gold dated 29.12.2014

Price since the end of 2011 till now was in strong and consistent downtrend with a little price reformation and sellers were successful in achieving the lowest price of 1131.335.Price has formed a bottom price(Spinning Top Pattern) with reaching to the specified supportive levels(Up Trendline and d point of harmonic pattern) in the picture below and it has stopped from more descend and has started a little ascend with shows exit of some sellers from their trades.

As it is obvious in the picture below, there is a harmonic butterfly pattern between the bottom price of 1131.335 and the top price of 1389.947 that there is a potential for changing price direction from D point of this pattern.Stoch indicator in Monthly time frame (also in daily time frame) is in saturation sell area and with the next cycle warns about ascending of price during the next candles.Generally until the third point of Up Trendline is preserved, the price has the potential for ascend and reformation in this Metal.