Despite the ongoing formation of a classic head and shoulders pattern which might complete over the next few periods, bulls focussing on the chart will have cheered last week’s golden cross over the 50 and 100 SMAs. A combination of both fundamentals, i.e. mainly sentiment, and TA is likely to be important over the next…
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OIL Stocks futures have started the week in green amid new hope for a Brexit deal and oil is taking advantage of this situation. Moreover, Asian oil demand has recovered quite quickly, and there are expectations for this trend to continue into the US and Europe over the next few months. In this scenario, Brent…
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GOLD Gold price has failed to continue its recovery, falling again below the support zone of $1,850. This comes despite a moderate return to risk-off in stock markets, and while the dollar remains weak. This could be seen as a signal of some weakness of the underlying strength. Gold had been expected to hold yesterday’s…
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GOLD Bullion is holding above the key support level of $1,850 with the price consolidating after the recent rally. European stock markets opened in the green, reinforced by positive news regarding the upcoming vaccine, but this was not a disruptive element for gold, which is only showing a fractional decline. Overall, in the last few…
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GOLD Gold broke through the resistance level at $1,850 as the weakening US Dollar, some bits of risk off on stock markets and a final attempt of the Trump team to renew its campaign against China pulled up financial demand for bullion. Moreover, the drop in price of the last few weeks has lifted up…
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AUD retested the 38.2% area of the weekly Fibonacci fan last week without success, but the technical picture nonetheless remains positive. With price holding above the 50 SMA from Bands since late last month and no signs of overbought as of now from either Bollinger Bands (50, 0, 2) or the slow stochastic (15, 5,…
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GOLD After last week’s rebound, gold is taking a break and the price is consolidating and trading between $1,830 and 1,840 per ounce, a fractional decline from last week. The next few trading sessions will tell us how strong the resistance area of $1,850 is, which is the first clear barrier for further recoveries for…
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GOLD The sell-off seen on the US Dollar is boosting gold recovery. Bullion is on a fractional gain today, but this week is on track for achieving a 3%+ recovery, while silver jumped by 7%. It is not surprising to see bigger movements on silver, which traditionally behaves as gold’s younger and livelier brother, showing…
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GOLD The bullion price has rebounded in the last few hours on the back of a combination of market drivers. Firstly, the weakening of the US Dollar is lifting up the price as investors are betting on further declines for the greenback, which is proving a supportive element for gold and other assets priced in…
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GOLD Gold is trying to react after the selloff seen in the last few trading sessions. The new slowdown of the greenback is lifting bullion up, in a scenario still dominated by risk on, but where we can see a slowing down of the bullish pressure of last month. Some investors are thinking that markets…
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