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  #61  
Old 03-02-2016, 01:17
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1.130.25 in a high volume. An intraday short-term trend is upward. So, selling looks very risky. In the daily time frame, I found demand in a volume above the average. We can see a test of 200 SMA. Also. the pair is trading well above all key MA`s (SMA 50,100,150,200) in the H4 time frame.The upward take-profit zone is established around the level of $1,134.00 (Fibonacci retracement 61.8%, daily SMA 200). If the price breaks the level of $1,134.00, we may expect potential testing of $1,182.00. In the M30 time frame, as I expected, buyers absorbed a massive volume spike (selling climax).

Trading recommendations:
Watch for potential buying opportunities on dips.




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  #62  
Old 05-02-2016, 16:56
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,160.44 in a very high volume. An intraday short-term trend is upward. In the daily time frame, I found an upward bar in a very high volume. Demand still presents in the market. So, selling looks risky. The price broke the daily 200 SMA. Also, the pair is trading well above all key MA`s (SMA 50,100,150,200) in the H4 time frame. The first take-profit level is reached at $1,134.00 (Fibonacci retracement 61.8%, daily SMA 200). Second short-term take profit is set at the level of $1,182.00. In the M30 time frame, I found a broken trading range (re-accumulation). Intraday support level is set around $1,156.50 (resistance became support). Since gold is in the uptrend according to the lower time frame, watch for the potential buying opportunities on dips.

Trading recommendations:
Strong upward trend on the market. Watch for potential buying opportunities on the dips.




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  #63  
Old 11-02-2016, 19:17
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,241.85 in a high volume. The metal reached our second short-term target at $1,232.00. Next upward target is set around $1,305.00. A strong upward bar in a high volume is seen in the daily time frame. The M30 time frame shows strong upward pressure and a very weak supply from the other side. Since gold is still in an uptrend according to the lower time frames, watch for potential buying opportunities on dips. Selling looks very risky as demand remains in a very high volume.

Trading recommendations:
Watch for potential buying opportunities on dips.




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  #64  
Old 12-02-2016, 15:13
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,241.85 in a high volume. The metal reached our second short-term target at $1,232.00. Next upward target is set around $1,305.00. A strong upward bar in a high volume is seen in the daily time frame. The M30 time frame shows strong upward pressure and a very weak supply from the other side. Since gold is still in an uptrend according to the lower time frames, watch for potential buying opportunities on dips. Selling looks very risky as demand remains in a very high volume.

Trading recommendations:
Watch for potential buying opportunities on dips.





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  #65  
Old 17-02-2016, 21:46
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading sideways at the level of $1,204.00. It seems like sellers had no power to break through our support level at $1,196.00. According to a daily time frame, I found a weak supply in a high volume, which is the potential sign of strength. I found that demand remained high, which is a sign that selling gold at this stage looks risky. I found Fibonacci retracement 38.2% at the level of $1,181.00 and Fibonacci retracement 61.8% at the level of $1,131.00. The trend is upward according to the intraday and short-term time frames. The level of $1,235.00 may provide strong resistance. The price is above all key MA`s. Our 10 SMA has been successfully held according to the daily time frame. Anyway, if the price continues to move lower, we may see potential testing of $1,181.00.

Trading recommendations:
be careful when selling gold and watch for potential buying opportunities on dips.




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  #66  
Old 19-02-2016, 01:55
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Gold price did not move higher in an impulsive mode, but it is moving sideways in what looks to be a triangle pattern. This increases the chances of a deeper correction towards $1,150. We might see $1,230-40 first but there are many chances to see $1,150 before a bullish trend resumption.

The four-hour chart above shows the price testing the cloud support. The triangle pattern has the upper boundary at $1,210 and the lower boundary at $1,202. A breakout above it will open the way to $1,230. A breakout below it will open the way to $1,150.

On a weekly basis, the price is still above the broken downward sloping wedge and the weekly cloud. The price is back testing the breakout area. Reaching a higher low on a weekly basis will be the first step of a longer-term reversal pattern in gold prices.



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  #67  
Old 24-02-2016, 23:11
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. The price tested the level of $1,239.06. Our support at $1,196.00 successfully held again. In the daily time frame, I found a demand bar in an average volume. At this stage selling looks risky. According to the H4 time frame, I found a failed attempt from sellers to absorb buying climax in the background. Our key MA`s are heading upwards (upward trend). The key resistance level is seen at $1,262.70. If the price breaks the level of $1,262.70 in a high volume, we may see potential testing of $1,307.00.

Trading recommendations: be careful when selling gold and watch for potential buying opportunities on dips




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  #68  
Old 26-02-2016, 06:46
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,253.08 in a high volume. In the daily time frame, I found a demand bar with a weak close, but in a high volume, which means that demand is still observed. At this stage, selling looks risky. Our key MA`s are heading upwards (upward trend). The key resistance level is seen at $1,262.70. If the price breaks the level of $1,262.70 in a high volume, we may see potential testing of $1,307.00. In the M30 time frame, I found a fake breakout of an upward trend line, which is a sign of strength.

Trading recommendations: be careful when selling gold and watch for potential buying opportunities on dips.




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  #69  
Old 01-03-2016, 20:30
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1,248.35. In the daily time frame, I found a demand bar in an average volume. At this stage, selling looks risky. Our key MA`s are heading upwards (upward trend). The key resistance level is seen at $1,262.70. If the price breaks the level of $1,262.70 in a high volume, we may see potential testing of $1,307.00. According to 4H time frame, I found successful rejection from upward trendline at the price of $1,210.00. Demand overcame supply near upward trendline, which is a sign of strength. According to 1H time frame, we can observe selling climax in the background, which bring professional buyers on the market.

Trading recommendations:
Be careful when selling gold and watch for potential buying opportunities on dips.




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  #70  
Old 02-03-2016, 20:04
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading downwards. The price tested the level of $1,224.56. In the daily time frame, I found a supply bar in an average volume. Intraday selling looks risky because I found selling climax and a successful test. Anyway, according to the daily time frame, we still have active buying climax that stopped gold from going further upwards, which is a sign that buying gold at this stage on short-term perspective looks risky. Our key MA`s are heading upwards (uptrend). The key resistance level is seen at $1,262.70. If the price breaks the level of $1,262.70 in a high volume, it will confirm potential testing of $1,307.00. Intraday resistance level is set at the price of $1,236.00. My advice is to watch for potential buying opportunities on an intraday basis, but it is very risky to buy gold on short-term prospective at this stage due to buying climax in the background

Trading recommendations :
Be careful when selling gold and watch for potential buying opportunities on dips.




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  #71  
Old 04-03-2016, 14:18
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview:
Since our last analysis, gold has been trading upwards. The price tested the level of $1,274.57. In the daily time frame, I found a strong demand bar in a high volume. Intraday selling looks risky because the price broke our key resistance level at $1,262.00. I found a symmetrical triangle and a continuation pattern. Watch for potential buying opportunities on dips. Try to build buying positions near the level of $1,250-$1,245.00. Targets are set at the prices of $1,304.00 and $1,338.00

Trading recommendations for today:
Be careful when selling gold and watch for potential buying opportunities on dips




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  #72  
Old 09-03-2016, 14:26
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview :
Since our last analysis, gold has been trading downwards. As I expected, the price tested the level of $1,251.45 in a high volume. In the daily time frame, I found a supply bar (upthrust), which is the sign of weakness and sluggish demand. Intraday buying looks risky at this stage. According to the H4 time frame, the price has reached my second take-profit level of $1,254.00. We may see potential testing of the third intraday target at the level of $1,240.70.

Trading recommendations for today:
be careful when buying gold at this stage and watch for potential intraday selling opportunities




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  #73  
Old 11-03-2016, 20:04
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Overview :
Since our last analysis was published, gold has been trading upwards. As I expected, the price tested the level of $1,283.33 in an ultra-high volume. In the daily time frame, I found a supply bar, which is a sign of strength. According to the 30M time frame, I found buying climax on a new high and strong reaction from sellers later on, which is a sign of weakness. Intraday buying looks very risky at this stage. Watch for potential selling opportunities on rallies. first significant support is set at the level of $1,237.25.

Trading recommendations for today:
be careful when buying gold and watch for selling opportunities on rallies.




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  #74  
Old 16-03-2016, 01:21
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

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Since our last analysis was published, gold has been trading downwards. The price tested the level of $1,225.58 in an average volume. It can be seen in the daily time frame chart, that the price broke the upward trend line (support) and confirmed potential continuation of a downward trend. In the H4 time frame, I found a broken trend line, and we may expect potential testing of $1,240.00. Take profit is set at $1,192.50. Watch for potential selling opportunities on rallies.

Trading recommendations for today:
be careful when buying gold, watch for selling opportunities on rallies.




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  #75  
Old 17-03-2016, 22:20
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

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Since our last analysis, gold has been trading upwards. The price tested the level of $1,270.71 in an ultra high volume. I found re-validation of our upward channel. Strong resistance level is set at the price of $1,282.80. Watch for a potential breakout of resistance to confirm further upward continuation. If the price breaks the level of $1,282.80 in a high volume, we may see potential testing of $1,308.00. According to the 30M time frame, I found solid intraday buying point around the price of $1,262.00 (previous swing high became support). The intraday take profit level is set at the price of $1,278.00-$1,282.80.

Trading recommendations for today:
be careful when selling gold, watch for buying opportunities on the dips.




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  #76  
Old 22-03-2016, 01:08
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

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Since our last analysis, gold has been trading downwards. As I expected, the price tested and reached our first take profit level at $1,242.00 (Fibonacci expansion 161.8%). Downward pressure started because of strong head and shoulders formation from the top and successful breakout of the neckline. Volume confirmed the HSS pattern and that is a reason for selling pressure on the market. The second take profit level is set at the price of $1,230.00.

Trading recommendations for today:
be careful when buying gold, watch for selling opportunities on rallies.




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  #77  
Old 24-03-2016, 09:14
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

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Since our last analysis, gold has been trading downwards. As I expected, the price tested the level of $1,231.08. Our head and shoulders formation is still active and so far it is progressing. According to the 4H time frame, we can observe strong selling pressure in a high volume. Supply entered the market after strong rejection from the neckline and after we saw a strong sign of weakness on the 4H time frame bar. The intraday take profit level is set at the price of $1,225.60 (swing low) and the short term take profit level is set at the price of $1,214.00

Trading recommendations for today:
be careful when buying gold, watch for selling opportunities on rallies.




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  #78  
Old 25-03-2016, 07:03
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

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Since our last analysis, gold has been trading downwards. As I expected, the price tested the level of $1,212.40. Our head and shoulders formation is still active and so far it is progressing. Our first take profit level at the price of $1,225.00 has been reached.According to the 4H time frame, we can observe strong selling pressure in a high volume. Next, downward take profit level is set at the price of $1,193.00 (major Fibonacci retracement 38.2%). The intraday resistance level is set at the price of $1,225.00. Price is testing the Fibonacci expansion 100% at $1,212.00.

Trading recommendations for today:
be careful when buying gold, watch for selling opportunities on rallies.




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  #79  
Old 30-03-2016, 11:10
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our last analysis, gold has been trading sideways around the price of $1,218.00. Price is trading in defined trading range between the price of $1,223.50 (resistance) and the price of $1,208.00 (support). If the price breaks the support level of $1,208.00 we may see potential testing of $1,193.00 (major Fibonacci retracement 38.2%). From the other side, if price breaks the level of $1,223.00 (resistance), we may see potential testing of $1,240.00.

Trading recommendations for today:
The market is moving sideways around the price of $1,220.00. Watch for successful breakout in a high volume to confirm further direction.




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  #80  
Old 01-04-2016, 12:39
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our last analysis, gold has been trading sideways at $1,231.00. A breakout of the $1,245.50 level is needed for the continuation of the upward movement. On the 4H time frame chart, I found low liquidity on the market. Watch for a successful breakout of $1,245.50 and then try to buy on the dips with the first target near the level of $1,259.00. From the other side, we got a weak closing of the bar from yesterday, which is a sign that we may see a downward correction before the breakout.

Trading recommendations for today:
Watch for buying opportunities on the dips. Selling looks very risky




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