If 1200 breaks though, a sell-off to 1000 could occur.
Author: Patrick Eugster
Showing posts with label Gold. Show all posts
Showing posts with label Gold. Show all posts
Monday, September 15, 2014
Gold ~ 15 September 2014
Gold has been declining since early July and is quickly approaching the strong support at 1200. If this level holds, we should get a bounce to the declining trendline, currently at 1325ish.
If 1200 breaks though, a sell-off to 1000 could occur.
Author: Patrick Eugster
If 1200 breaks though, a sell-off to 1000 could occur.
Author: Patrick Eugster
Monday, May 12, 2014
Gold ~ 12 May 2014
Gold has been trading between 1200 and 1400 for about a year now. As long as we stay in this range, the long-term trend is neutral.
Medium-term the situation looks very similar. Support is at 1280 and resistance at 1330. Until we break either of these levels, the medium-term trend is also neutral.
Author: Patrick Eugster
Medium-term the situation looks very similar. Support is at 1280 and resistance at 1330. Until we break either of these levels, the medium-term trend is also neutral.
Author: Patrick Eugster
Wednesday, February 19, 2014
Gold ~ 19 February 2014
Gold is now near the resistance at 1350ish:
The medium-term trend is up as long as 1270ish holds.
(I'll post an EW count a bit later)
Author: Patrick Eugster
The medium-term trend is up as long as 1270ish holds.
(I'll post an EW count a bit later)
Author: Patrick Eugster
Thursday, February 6, 2014
Gold ~ 6 February 2014
Gold has tested the June lows in late December. Since then, it has recovered nicely and is now slowly trying to get to the resistance at 1350:
In an hourly chart this uptrend is clearly visible:
As long as the lower trend line holds, the medium-term trend is up. If we break below it, we might test the low at 1200 once again.
Author: Patrick Eugster
In an hourly chart this uptrend is clearly visible:
As long as the lower trend line holds, the medium-term trend is up. If we break below it, we might test the low at 1200 once again.
Author: Patrick Eugster
Thursday, October 24, 2013
Gold ~ 24 October 2013
Gold has been rallying over the last few days and is now approaching the resistance level at 1350-65:
A rally above this level would be medium-term bullish. Next targets were 1425 and 1480.
Author: Patrick Eugster
A rally above this level would be medium-term bullish. Next targets were 1425 and 1480.
Author: Patrick Eugster
Wednesday, October 2, 2013
Gold ~ 2 October 2013
It turned out to be a good decision to wait one more day and see whether the break of 1360 will be confirmed (link to last update). The day after, gold broke below 1360 again and hit the support at 1280ish yesterday.
As long as we stay within 1280 and 1360 I'm neutral. If we get a convincing break above 1360, the medium-term trend would be back to bullish. Should gold decline below 1280ish though, I'd turn bearish and a drop to the July lows would be likely.
Author: Patrick Eugster
As long as we stay within 1280 and 1360 I'm neutral. If we get a convincing break above 1360, the medium-term trend would be back to bullish. Should gold decline below 1280ish though, I'd turn bearish and a drop to the July lows would be likely.
Author: Patrick Eugster
Thursday, September 19, 2013
Gold ~ 19 September 2013
Gold surged to over 1360 yesterday:
As mentioned on Tuesday, a break above 1360 would turn the medium-term trend back to bullish. I'd like to wait one more day though before turning bullish again to see whether yesterday's move was real or just fake. But if we can hold above 1360, the next objective should be 1420-30.
Author: Patrick Eugster
As mentioned on Tuesday, a break above 1360 would turn the medium-term trend back to bullish. I'd like to wait one more day though before turning bullish again to see whether yesterday's move was real or just fake. But if we can hold above 1360, the next objective should be 1420-30.
Author: Patrick Eugster
Tuesday, September 17, 2013
Gold ~ 17 September 2013
Gold had a horrible September so far declining back to 1300:
Despite the recent sell-off I wouldn't count gold out just yet - at least as long as 1280ish holds. Seasonality has worked pretty well so far this year. We got a weak first half of the year which was followed by a recovery starting in early July.
The next three weeks are usually very bullish so there is still hope for prices well above 1400 later this year. 1360 needs to be regained though to turn the medium-term trend back to bullish.
Author: Patrick Eugster
Despite the recent sell-off I wouldn't count gold out just yet - at least as long as 1280ish holds. Seasonality has worked pretty well so far this year. We got a weak first half of the year which was followed by a recovery starting in early July.
The next three weeks are usually very bullish so there is still hope for prices well above 1400 later this year. 1360 needs to be regained though to turn the medium-term trend back to bullish.
Author: Patrick Eugster
Tuesday, September 10, 2013
Gold ~ 10 September 2013
Gold is pulling back and approaching the support at 1350ish.
If this level holds, we should see higher prices later this year.
Author: Patrick Eugster
If this level holds, we should see higher prices later this year.
Author: Patrick Eugster
Thursday, August 29, 2013
Gold ~ 29 August 2013
Gold's advance continues:
As long as gold is above 1350ish, the medium-term trend is up.
 |
| (link to previous post) |
Thursday, August 22, 2013
Gold ~ 22 August 2013
Gold has been consolidating around 1370 over the last week:
If 1340-50 holds, the rally should continue.
If 1340-50 holds, the rally should continue.
Thursday, August 15, 2013
Gold ~ 15 August 2013
Gold broke the resistance at 1350:
If we get two consecutive daily closes above this level, I think a rally to 1500ish should follow.
If we get two consecutive daily closes above this level, I think a rally to 1500ish should follow.
Wednesday, August 14, 2013
Gold ~ 14 August 2013
Gold hit the resistance at 1350ish again:
If it breaks, we should see a rally to 1480/1550.
If it breaks, we should see a rally to 1480/1550.
Sunday, July 28, 2013
Gold ~ 28 July 2013
I'm still unable to post daily for two more weeks. The next update should follow on Wednesday.
We got the expected rally to 1350:
As mentioned earlier this month, if 1350ish is convincingly breached, 1180 was most likely a long-term low. A break of 1350 should lead to a rally to 1480/1550.
We got the expected rally to 1350:
As mentioned earlier this month, if 1350ish is convincingly breached, 1180 was most likely a long-term low. A break of 1350 should lead to a rally to 1480/1550.
Thursday, July 11, 2013
Gold ~ Update ~ 11 July 2013
Gold has rallied back to 1300 over the last few days. I think we could see 1350ish next if 1260ish holds.
As already said two weeks ago, I think that we're very near a long-term bottom. If gold can break 1350ish convincingly, 1180 is most likely the low and the next wave to new all-time highs should be underway. If 1350 breaks, we should see a quick rally back to 1480/1550.
Friday, June 28, 2013
Gold ~ 28 June 2013
Gold declined to below 1200 overnight:
Since the top in 2010, gold has now declined almost 40 %.
I think there is not much downside left. Initially I preferred 1250 as a target for this decline. We declined to 1180 now which is also a decent support area. The next support area is at 1000-50. I doubt that we'll drop that low, though. So, I'm now looking for gold to find a bottom within the next few weeks and then participate in the next wave up to new all-time highs.
Since the top in 2010, gold has now declined almost 40 %.
I think there is not much downside left. Initially I preferred 1250 as a target for this decline. We declined to 1180 now which is also a decent support area. The next support area is at 1000-50. I doubt that we'll drop that low, though. So, I'm now looking for gold to find a bottom within the next few weeks and then participate in the next wave up to new all-time highs.
Thursday, June 20, 2013
Gold and Silver ~ 20 June 2013
Gold declined below 1300 today and is approaching my main target I gave in April after 1550ish was breached:
Silver is already at the next support level around 19ish:
I think we could see at least a short-term rally at these support levels. The overall trend remains down though as long as we stay below 1350 and 22.
Silver is already at the next support level around 19ish:
I think we could see at least a short-term rally at these support levels. The overall trend remains down though as long as we stay below 1350 and 22.
Thursday, June 6, 2013
Gold ~ 6 June 2013
Gold has been trading around 1400 for the last few days. It looks like we'll get a big move soon:
Monday, May 20, 2013
Monday, April 15, 2013
Gold ~ 15 April 2013
The sell off in gold is pretty impressive. Just two days after breaking the important support level at 1550ish, we're already 200 $ lower:
1250ish should be the next objective.
1250ish should be the next objective.
Subscribe to:
Posts (Atom)