Gold broke down from a triangle pattern but the downside has been pretty poor – the bear trap scenario might be in play (browse the archive for more details). Bear side speculators must be disappointed and might soon suffer great loses.
Possible construction of slightly higher gold low. ZGZ6 Contract (CBOT December gold futures) - Fibonacci, intraday chart below (enlarge chart for better view).Reform on the cards for the IMFBelgium or India? Which has more clout when it comes to decision making on loans to developing countries and on global economic stability?Despite India's economy being about twice the size of Belgium's and it
Gold found some kind of bottom at 607$ and currently trading about 20$ higher. Below is spot gold bid price 120 minutes candles chart. August was not a good month for gold but there is still some time for repairs. The chart is annotated with new short term Fibonacci numbers and minor Elliott wave count for your convenience.For the watch list - VGZ , MNG - charts
Gold supply demand analysis papersTwo reports, the first is by the World Gold Council (WGC) and GFMS, published each quarter.Gold supply demand analysis report IThe second report, the Yellow Book by Virtual metals / Fortis bank, published twice a year.Gold supply demand analysis report IIThe reports are worth reading and basically present the same information. However, each rely on different data
Dear readers, I'm deeply sorry for posting less lately.I decided to trade more and post less.See the latest HUI technical overview.I will do my best to keep you up to date with any major gold technical and fundamentals developments.
Below are two intraday charts of spot gold, each with two sets of Fibonacci lines and stochastic indicator. Gold broke down from the triangle formation, it's a head fake in my opinion and I did mentioned this possibility Gold and Silver –Charts & Commentary">here. Click on the charts below to enlarge
Some of you will find this information valuable: Investing the Middle Way: Guide to investing in gold and silver bullionLater...
GOLD TRUST (GLD) BEGINS TRADING ON MEXICO’S BMV-sourceSilver consolidates around the 50% Fibonacci line. Support at 11.63$, trend line support at 11.20$ and raising, resistance at 13$.Gold had a technical failure of minor proportion, the (C - 2) low on yesterday chart failed to hold. Yesterday wave count is modified to reflect the technical failure. There is nothing to worry about for investors
Just a quick reminder:1) The price target for gold remains ~1000$ for 2006.2) Gold will rally regardless of the minor fluctuations in paper Forex markets.3) The best way to play gold is gold.4) The price of gold will be determined by gold market internal factors.
The count on the chart below is inline with previous counts. This is the minor count for Major Wave (iii - III). Elliott Wave is important technical tool which can help and improve your market timing. If you are new to Elliott Waves – see this Elliott Wave Tutorial by EWI (needs registration).
The US Federal Reserve decided to leave Interest Rate Unchanged at 5.25 Percent, Its First Pause in 2 Years. The gold market reacted with modest rally, somewhat abnormally but certainly not surprising - gold immediately sold off and traded at the low for the day. Looking at the daily chart, Same Elliott wave count, this is wave (iii of III), triangle formation which will break to the upside in my
The gold market has been pretty boring the last few trading days. Gold is stuck in a relatively tight trading range (638$ - 656$) – see the first gold chart below. Looking at the 3 month gold charts – gold formed a triangle pattern which is not yet completed. The pattern is similar for Gold/USD, Gold/Euro and Gold/Yen. Silver already broke above its diagonal resistance and consolidates around the
Might be worth to repost this:(Originally posted Saturday, January 21, 2006)Gold is neither holy nor sacred; I do not worship gold or anything else for that matter. The purpose of this site is to share my thoughts, knowledge and charts.Many analysts tend to explain the movements in the price of gold with political events, I disagree about that. In my opinion the price of gold doesn't have much to
Silver is clearly on the lead, already trading above the July top, gold will soon follow.China should actively manage 20-30 pct of forex reserves - govt economistBEIJING (XFN-ASIA) - China should set aside 20-30 pct of its foreign exchange reserves to be actively managed, a government economist said.Xia Bin, head of the financial research institute within the Development Research Center, a think
Good day for gold and silver. Gold moved higher to test resistance at the 38.2% Fibonacci line (see the first chart below), 50% Fibonacci line at 639$ - previous resistance is now first short term support level.Click on the charts below to enlarge:
Last few days gold is trading in a relatively tight trading range, Bollinger bands (MA= 50, STD =2) on the one hour charts are tight and a breakout one way or another should soon follow. As previously said, I expect gold and silver to move higher but it is possible that gold will first move little bit lower (~620$) – a final speculators shakeout.As you can see on the one hour spot gold chart
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