BULLION RESEARCH REPORTS
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OLD RESEARCH REPORTS
GOLD 23/01/2018
Gold prices eased from highs as safe-haven demand dropped after reports that Senators may be near an agreement to end the government shutdown..Senator Minority leader Chuck Schumer said Democrats will vote on a bill to re-open the government to continue negotiating a global agreement following which the third day of the US government shutdown was reportedly nearing an end.The Senate voted to advance the bill 81-18 and is expected to send it back to the Houseof Representatives for a vote.The bill would provide funding to keep the open through Feb. 8.
Technical outlook :
Gold 4-Hr chart has formed "Rising
channel” pattern. The last few sessions seems consolidated inside the channel near its support slope line. The market has
already retested the support level of the channel near $1330(29765) and turned
bullish.The same is expected to continue on bullish momentum, testing all the
way through $1340- 1345(30015-30140) levels in the upcoming sessions. Alternatively, if the market breaks below the support then seller might take control over the market.The downside rally could test $1325-1320(29640- 29515) levels. Resistance holds at $1345(30140).
Technical Chart:
Technical outlook :
Gold 4-Hr chart has formed "Rising channel” pattern. The last few sessions seems consolidated inside the channel near its support slope line. The market has already retested the support level of the channel near $1330(29765) and turned bullish.The same is expected to continue on bullish momentum, testing all the way through $1340- 1345(30015-30140) levels in the upcoming sessions. Alternatively, if the market breaks below the support then seller might take control over the market.The downside rally could test $1325-1320(29640- 29515) levels. Resistance holds at $1345(30140).
Technical Chart:
GOLD 14/03/2017
Gold on Monday 13th March 2017, Gold prices down by -115pts (-0.41%) & closed at 28251 trading range between 28210-28420 and April Comex Gold futures closed at $1203.10, division of the New York Mercantile Exchange.
Gold prices kept trading on the back foot on Monday as the dollar wavers against a basket of currencies at the outset of a busy week that includes Netherlands elections and British PMs enforcement of Article 50 to exit the European Union, while the Federal Reserve meets this week.
Golds wavering comes as dollar dithers against a basket of currencies as markets await the Federal Reserve’s meeting this week, expected to hike interest rates for the first time this year.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.1% at 101.94.
On the other hand, markets are following Netherlands elections closely on Wednesday, considered an indication of the popular movements strength in Europe after the surprise Brexit vote and the tensions regarding the French presidential elections next month.
On the other hand, markets are following Netherlands elections closely on Wednesday, considered an indication of the popular movements strength in Europe after the surprise Brexit vote and the tensions regarding the French presidential elections next month.
Meanwhile, Britain’s Prime Minister Theresa May will start applying article 5 this week and exit the European Union, raising tensions in the markets and offsetting U.S. rate hike expectations to keep the safe haven flat for the day.
Traders may note today’s economic event
Tuesday, March 14th
1. PPI (MoM) (Jan) (GMT 18:00 LOCAL 06:00 PM)
DATA FORECAST 0.01% PREVIOUS 0.06%
The U.S. is to release data on producer price inflation.
A higher than expected reading should be taken as positive/bullish for the Bullions, while a lower than expected reading should be taken as negative/bearish for the Bullions.
Technical Outlook:
Gold prices were nearly unchanged moving slightly lower, and very beginning we identified “Bearish Megaphone chart pattern” so it had been reached almost three level of target. Now we should be taking into long term view, because market there will any chance to take support or reversal point.
Gold crashing into the 50% Fibonacci retracement level. However, the Friday session was very neutral, for long term trader this place usually potential buying opportunity around 28200-28000 level, it will be difficult to find a signal, but I think if you watch the daily charts and if we can break above the top of the candle for the Friday session, I think gold market correction is over we are in now buying area.
Gold future rise on sell again dips on buy …. During market hour, will give us buying opportunity from today or tomorrow.
Gold future Dips on Buy around 28000 Target 28500-29000 Stop loss 27750. (Positional call weeks)
Technical Chart:
