GOLD

[GoldTrader]

GOLD - 08.04.2015

Gold reached 7-week highs pm dollar regained momentum, although uncertainty about the timing of a U.S. interest rate hike kept bullion above $1,200 an ounce.

Technical levels
Next immediate resistance above at 41236.80(Feb 16^th high), $1245.90(Feb 10^th high) and $1285.80(Feb 3^rd high).
Downside immediate support below at $1208(Apr 7^th low), #1194.80 (Apr 2^nd low) and $1180.50 ( Apr 1^st low).

[GoldTrader]

Gold - 09.04.2015

Next immediate support below at $1194.80(Apr 2^nd low), $1180.50 (Apr 1^st low), next immediate resistance above at $1236.80(High Feb 16^th), $1245.90 (hifh Feb 10^th) and $1285.80 (High Feb 3^rd).

[GoldTrader]

GOLD - 15.04.2015

Gold came down lowest level after data showed that retails sales in the U.S rose less than expected last month.
The U.S. Commerce Department said that retail sales increased by 0.9% in March, disappointing expectations for a gain of 1.0%. Core retail sales, which exclude automobile sales, rose by 0.4% in March, missing forecasts for a 0.6% increase.
Gold Technical Levels.
The immediate resistance above $1198.80, $1201.10 and $1204.90 levels.
Downside immediate support below at $1292, $1290 and 1286.20 levels.

[HFblogNews]

Date : 15th April 2015


WEEKLY CHART: GOLD’S LIKELY TO MOVE LOWER.





Gold, Weekly


In my latest Gold analysis from March 18th I wrote: These levels are exactly the levels that attracted buyers in Q4 2014 which suggests that there might still be some demand for Gold just below the current price. However, the psychology might have changed since December last year. Strong growth in the US labour market we have seen since then coupled with the rate hike expectations could lead to Gold breaking the support this time around. I am not taking a view that it will happen as support is support as long as it works. A close above yesterday’s high at 1159.30 would be a positive signal while a close above the 1165.70 resistance in would improve it even further. This would warrant buying intraday dips after over the coming few days with a target at 1190.


Now we’ve seen Gold closing moving higher from the support level and hitting my target at 1190. In addition, this market has moved beyond the target and turned lower at 1224.50 resistance. At the same time Gold created a bar with a narrow range between the open and closing prices hinting a move lower. This has since then materialised and Gold has moved lower this week. This is suggesting further moves lower in the coming two weeks or so. The next important weekly support is likely to be found near the lower weekly Bollinger Bands and 1131.50 to 1142 range. Long term picture is still bearish while in the medium term I expect Gold to move sideways between the above mentioned support and resistance levels.





Gold, Daily


In the daily picture Gold is trading close to the 50% Fibonacci level and the Stochastics are getting close to the oversold levels. This suggests that the move lower over the last few days could slow down a bit. Yesterday we saw a rally from the 50% Fibonacci level but there was no follow through. This 50% retracement level coincides with a pivot candle from the end of March and if price keeps moving sideways for a few days the lower Bollinger Bands will catch up with it creating another supportive element. However the weekly picture points to the downside and therefore we should see rallies higher met with selling and eventually see a move lower to 1141 and 1160 range.





Gold, 240 min


While the 50 period moving average is still pointing higher Gold has been creating lower highs and trending lower in a descending channel. Price is reacting from resistance levels, which suggests further moves lower. The fact that the bounce from 1183.70 support was weak and met with selling does increase probabilities that price will eventually work its way through the support. This however does not rule out price bouncing higher and retesting the resistance levels at 1198 and 1208. The latter coincides with upper Bollinger Bands and should price rally there we’d be looking for momentum reversal signals close to it. The same applies to the 1198 resistance. If price stays in the descending channel (minor time frame confirms with momentum reversals close to the channel top) then we obviously should take advantage of them.


Conclusion


Weekly picture points to lower prices and I expect Gold to move to the lower weekly Bollinger Bands and close to the support range at 1131.50 – 1142 where it should attract buyers again. It could very well be that over the coming weeks price moves sideways between the 1224 resistance and the aforementioned support level. Ranging market between these levels could provide opportunities for traders (with different time trade orientations) trading against both the major and minor resistances and support levels. Short term we are close to a support level and therefore I would like to see price rallying a bit before initiating short trades. We could see Gold retesting the resistance levels at 1198 and 1208. The latter coincides with the upper Bollinger Bands and should price rally there we’d be looking for momentum reversal signals close to it. The weekly Bollinger Bands and proximity of daily pivot high at 1160 could very well work as an ultimate swing trade target.


Janne Muta
Chief Market Analyst
HotForex


Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[GoldTrader]

Gold Technical Levels - 16.04.2015

Gold futures rebounded after a gauge of manufacturing in New York state unexpectedly declined, boosting the precious metal’s appeal as a haven.
Gold Technically, next immediate resistance above at 41236.80, $1245.90 and 1285.80 levels. Downside immediate support below at $1184, 1180.50 and 1178.20 levels.
Trend overall looking slightly bullish at the moment.

[GoldTrader]

GOLD - 17.04.2015

Gold, which historically has been a safe haven for investors in times of chaos, rose to a daily-high of $1,208.80 an ounce in European afternoon trading before falling slightly as investors locked in profits. On the Comex division of the New York Mercantile Exchange, gold future for June delivery dipped 4.30 or 0.36% to 1,197 after experiencing modest gains one day earlier.
Technically, Gold immediate support below at $1184(Low Apr 14^th), $1180.50 (Apr 1^st low) and $1178.20 (March 31^st low). Immediate resistance above at $1236.80(High Feb 16^th) , $1245.90(high Feb 10^th ) and $1285.80 (High Feb 3^rd )

[David-Trader]

Gold - 21.04.2015

Gold futures settled lower on Monday as a rally in the U.S. stock market lured investors away from the precious metal. Meanwhile, silver futures lost more than 2% as a slowdown in China's economic growth dulled demand for the industrial metal.
Technical Levels
Gold next immediate support below at $1191(Low Apr20), $1184(Low Apr 14) and $1180.50(Low Apr 10). Immediate resistance above at $1236.80(High Feb 16^th), $1245.91(High Feb 10^th ) and $1285.80 (High Feb 3^rd)|.

[David-Trader]

Gold - 22.04.2015

India celebrates festival of Akshaya Tritiya. Gold rose past chart resistance on Tuesday, recouping most of the previous session's losses in choppy, currency-driven trade after the U.S. dollar turned lower and bolstered bullion's appeal.
Technically, gold next immediate support below at $1191(Low Apr20th), $1184 (Low Apr 14^th ) and $1180.50 (Apr 1^st Low), upside immediate resistance above at $1236.80(High Feb 16), $1245.91(High Feb 10) and 1285.80 (High Feb 3^rd).

[David-Trader]

Gold - 23.04.2015

Gold fell more than one percent on Wednesday, on selling pressure as the dollar pared earlier losses after euro zone data disappointed, while the absence of major developments in the Greek crisis left investors cautious.
Technical Levels
Gold next immediate resistance above at $1236.80, $1245.90 and 1285.80 levels.
Downside support below at $1184, $1180 and $1180.50 levels.

[David-Trader]

Gold - 24.04.2015

Gold technically, next immediate resistance above at $1236.80, $1245.90 and $1285.80 levels.
Down side immediate support at $1184 and $1180.50 levels.