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[NeoSeemadong 52]

Technical Analysis for Precious Metals

Analysis | Commodity Technical Analysis | Written by ecPulse.com |

Mon Jun 27 11 03:00 ET

 

Gold

Gold slipped violently towards 61.8% of the suggested harmonic structure. This harmonic formation could be Gartley pattern and also very close to be Bat but it couldn’t reach 1563.00 to confirm the Bat and couldn't stabilize below 1549.00 to confirm the first shape. Actually, this harmonic formation was efficient enough to push the metal lower below 61.8% at 1505.00. Thus, the path is cleared towards 76.4% of CD leg at 1492.00 which will define the direction for this week. Momentum indicators reflect clear oversold signs contradicting with the bearish tendency and therefore, we prefer staying aside until we see how the metal will behave between 1505.00 and 1492.00.

 

The trading range for this week is among the key support at 1462.00 and key resistance now at 1549.00.

 

The general trend over the short term basis is to the upside targeting 1600.00 per ounce as far as areas of 1430.00 remain intact with weekly closing.

 

Support: 1492.00, 1488.00, 1480.00, 1477.00, 1474.00

Resistance: 1505.00, 1513.00, 1525.00, 1532.00, 1537.00

 

Recommendation Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.

[tanusg 12]

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[NeoSeemadong 52]

Technical Analysis for Precious Metals

Analysis | Commodity Technical Analysis | Written by ecPulse.com |

Tue Jun 28 11 02:52 ET

 

Gold

Trading is trapped between 61.8% and 76.4% Fibonacci retracement levels of CD leg for the harmonic structure as seen on the image at 1505.00 and 1492.00. The sideways direction between those levels makes the trend unclear despite RSI providing oversold signs. Stochastic is moving positively but it approaches overbought areas gradually. Henceforth, we prefer staying aside over intraday basis.

 

The trading range for today is among the key support at 1474.00 and key resistance now at 1532.00.

 

The general trend over the short term basis is to the upside targeting 1600.00 per ounce as far as areas of 1430.00 remain intact with weekly closing.

 

Support: 1492.00, 1488.00, 1480.00, 1477.00, 1474.00

Resistance: 1505.00, 1513.00, 1525.00, 1532.00, 1537.00

 

Recommendation Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.

[deb99 290]

!01

[NeoSeemadong 52]

Technical Analysis for Precious Metals

Analysis | Commodity Technical Analysis | Written by ecPulse.com |

Wed Jun 29 11 02:53 ET

 

Gold

Yesterday's incline is still trapped between 61.8% and 76.4% of CD leg for the harmonic structure that could be a bearish Bat pattern. Trading between 1505.00 and 1492.00 makes the sideways dominating the movements for the time being. We will be neutral for today until we get clearer technical signs.

 

The trading range for today is among the key support at 1474.00 and key resistance now at 1532.00.

 

The general trend over the short term basis is to the upside, targeting $ 1600.00 per ounce as far as areas of 1430.00 remain intact with weekly closing.

 

Support: 1492.00, 1488.00, 1480.00, 1477.00, 1474.00

Resistance: 1505.00, 1513.00, 1525.00, 1532.00, 1537.00

 

Recommendation Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.

[เม่าน้อย 7]

ขอบคุณค่ะ

[deb99 290]

!01

[NeoSeemadong 52]

Technical Analysis for Precious Metals

Analysis | Commodity Technical Analysis | Written by ecPulse.com |

Thu Jun 30 11 02:55 ET

 

Gold

The trading range for today is among the key support at 1492.00 and key resistance now at 1549.00.

 

The general trend over the short term basis is to the upside, targeting $ 1600.00 per ounce as far as areas of 1430.00 remain intact with weekly closing.

 

Support: 1510.00, 1505.00, 1500.00, 1492.00, 1488.00Resistance: 1516.00, 1525.00, 1532.00, 1537.00, 1545.00

[NeoSeemadong 52]

Silver

We are forced to reconsider our suggested Elliott count since stability above 34.35 has weakened yesterday's discussed harmonic pattern. We will use the classical studies today until the metal introduces an actionable Elliott or harmonic sign where we can see a bearish channel with stability above SMA 50 at 34.85, Furthermore, price is stable above the support of 34.70 but Stochastic shows overbought sign and MACD attempts o be positive without clear confirmation. Therefore, we will be neutral for today until we get a clearer technical sign.

 

The trading range for today is among the key support at 33.30 and key resistance now at 37.45.

 

The general trend over short term basis is to the downside, targeting 26.65 as far as areas of 48.50 remain intact with weekly closing.

 

Support: 35.00, 34.70, 34.35, 33.90, 33.60

Resistance: 35.65, 36.000, 36.35, 36.80, 37.45

 

Recommendation Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.

[NeoSeemadong 52]

China's Long-term Gold Demand Remains Robust

 

ONG Focus | Insights | Written by Oil N' Gold | Wed Jun 29 11 08:57 ET

Commodities remain strong in European session as the euro advances and the US dollar weakens. Gold climbs for a second consecutive day and is currently trading at a 3-day high of 1510.5. As of June 28, gold gained around +5% in 2Q11, significantly underperforming the +12% rally the same period last year. Recall that sovereign crisis in the European periphery sparked in the second quarter in 2010 and this drove investors to seek safe-haven investments. Gold rallied as a result. Failure to repeat the history this time probably indicates investors are more confident that the situation will be contained and they realized the cases for Spain and Italy are fundamentally different from the one in Greece.

 

While short-term volatility is likely, we believe gold will gain support at around 1500. China has now surpassed India as the biggest gold consumer. Yet, these 2 countries will remain the biggest growth drivers. According to the World Gold Council, there's a 'tidal wave of gold demand coming' mainly from emerging markets. Similar to India, gold has a special appeal to Chinese people as it represents luck and fortune. Apart from traditional beliefs, heightening inflation pressure in China has also increased gold's demand as a hedge against inflation. Headline inflation jumped to +5.5% y/y in May after moderating to +5.3% a month ago. Core inflation was also worrisome as it soared +2.9% y/y, accelerating from +2.7% in April.

 

China is the world's 6th largest gold holder in terms of total amount. However, at 1054.1 tonnes, it only takes up 1.6% of total reserves. Indeed, the Chinese government realized the need of increasing gold reserves. In the 2010 International Financial Market Report released in March, the PBOC expressed positive views on gold demand and signaled that investment demand will be supported by inflation and geopolitical uncertainties.

 

Besides, industry experts have stated that persistent sovereign debt problems in the European periphery should boost gold purchases. Zhang Bingnan, secretary-general of the China Gold Association, said the government's gold reserves are 'far from enough'. Moreover, 'demand for gold, mostly driven by investment, will grow at least 20%...Enthusiasm for gold as an investment will get stronger, and domestic sales in this category will keep doubling in the next 2 years'.

 

On the dataflow, Eurozone's confidence indices were mixed. Economic confidence slipped to 105.1 in June from 105.5 in the prior month and industrial confidence dipped -0.6 points to 3.2. While staying in negative territory, consumer confidence improved modestly to -9.8 in June from -10 in May. Services confidence also rose to 9.9 from an upwardly revised 9.3 in May. In Canada, inflation accelerated with headline CPI rising to +3.7% y/y in May from +3.3% in April. Core CPI also accelerated to +1.8% y/y in May from +1.6% a month ago. In the US, the market expects pending home sales to have climbed +0.8% m/m in May, following a -11.6% contraction in the previous month.

[นัย 232]

ขอบคุณค่ะ คุณNeo

[deb99 290]

!01

[NeoSeemadong 52]

Technical Analysis for Precious Metals

Analysis | Commodity Technical Analysis | Written by ecPulse.com |

Fri Jul 01 11 03:52 ET

 

Gold

The daily chart shows that gold has come back into trading range between 61.8% and 76.4% Fibonacci retracement of CD leg for the bearish harmonic structure. Coming beneath 61.8% at 1505.00 has negated yesterday's expected bullishness. Now, Stochastic is showing positive tendency; whilst RSI is fluctuating below 50.00; thus, we prefer staying aside over intraday basis.

 

The trading range for today is among the key support at 1492.00 and key resistance now at 1525.00.

 

The general trend over the short term basis is to the upside targeting 1600.00 per ounce as far as areas of 1430.00 remain intact with weekly closing.

 

Support: 1500.00, 1492.00, 1488.00, 1480.00, 1477.00

Resistance: 1505.00, 1510.00, 1516.00, 1525.00, 1532.00

 

Recommendation: Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.

[NeoSeemadong 52]

Technical Analysis for Precious Metals

Analysis | Commodity Technical Analysis | Written by ecPulse.com |

Fri Jul 01 11 03:52 ET

 

Silver

Silver came back below SMA 50 and below the support of 34.70. Stochastic is negative, while MACD shows signs weakness clarifying that price explosion will start sooner. Thereby, we will be neutral for today until price stabilizes above or below SMA 50 within the descending channel since we need to witness signs for a new direction on MACD.

 

The trading range for today is among the key support at 33.30 and key resistance now at 36.00.

 

The general trend over short term basis is to the downside, targeting 26.65 as far as areas of 48.50 remain intact with weekly closing.

 

Support: 34.35, 33.90, 33.60, 33.30, 33.10

Resistance: 34.70, 35.00, 35.65, 36.00, 36.15

 

Recommendation Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.

[เม่าน้อย 7]

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