Gold is to retest 1600 Support near term ??

Gold has climbed rather slowly over last three months without any significant retracement.

The imminent strengthening of Dollars and weakness in Euros may trigger the rapid decline of Gold as  similar in September month this year.

However, as long as the trend line support is intact , we will not expect its rapid weakening  unless the immediate Support  near 1741.50 ( Ichimoku Bottom Support),  and 1735.00 ( its recent Low) are breached.

 And Breaking Both  Supports may expose 1600.00 next.

GOLD---will it hit 1400.00 near term or going below 1300.00 ??

Euro’s test of the 1.40 level against the U.S. dollar will be used as a trigger to trim positions. Drastic moves typically signal the end of a rally as the final skeptics and last buyers try to hop on a trend, so Last Tuesday and Wednesday’s moves put me on alert. and Thursday Bearish Engulfing Candles signalling reversal may be imminent,  I am now expecting some kind of correction that will cool things off and provide the next buyable dip


Gold may still be lifted possible near 1400 before plunging down, as 1400 is the 100% extension from 1048-1270 advance., but only below 1320 will confirm the Bearish reversal.


As the Dollars weakness may persist much longer, the breaching  of level 1400  can not be discarded. Euro/usd may be traded within a close range from 1.3950-1.1450  near term, and resulting in  Gold  to be in Bearish reversal as Investors may view Gold as Bubbles for prices beyond 1400.






Daily chart for Gold with Trendlines and support /resistance

GOLD---WILL IT CRASH BELOW 1200 NEAR TERM ??

We see a relative stabilization of Euros near terms, especially against Dollars and other commodity currencies. As such, gold may go down due to risk aversion, as the Gold price is now considered much too high to sustain.


The possibility of Sell down Gold in upcoming weeks/Months is thus high.




Daily Chart for Gold.

The lower trendline marked in Brown Color has been breached for the last three trading days.


The current sentiments are Bearish, 1237 is the immediate support(S2), follows by 1231 (S3), Breaking these two supports may send gold toward 1209, the Ichimoku cloud top support (or near the 50% Fibo), next will be 1197 (38.2% Fibo), then 1181 (23.6% Fibo).


Please do note that there is a perfect Bearish Double Tops formation for GOLD on Daily Chart.

GOLD ---CAN IT SOAR ABOVE 1350 AND BEYOND ??

Answer is Yes, The probability for Gold to  exceed 1350 in the next 1-2 weeks' trading days is very high indeed.

Fundamentals  on GOLD

1) The uprising on the cost of raising Funds via Bond issue from European countries to ease their escalating Financial woes is worrying 

2) More bad news from France and Spain may be arising upfront to damp the markets's sentiments further.

2) Japan is not very convincing on sustainable recovery, and deflation problems plagues her consistently

3) China is again thinking of implementing further measures to have more soft-landing on her economy, and cramping down the risk of Property bubbles and rising inflation 

4) The last US's NFP nos is very disappointing , and the expected nos in upcoming NFP next week  may not be very positive and stimulating.

5) There is a general downward momentum on the FTSE/DAX/S&P500/DJ , AS  also can be reflected in the MSCSI (World's Stock index) and US INDEX.

6) China has again shows her unwillingness to let Yuan to float freely, diminishing  the hope for rapid Yuan Appreciation, The news on last Friday from her central bank TO FURTHER RELAX her Yuan is still pending on outcome.

7) Latest nos from US on Housing data  IS DAMPING the hope for faster recovery

8) there is No Solid resolutions or Consensus derived from the Present on-going G20 meeting.

ALL the above factors are driving The Investors to a Cross Road without Direction,, as such Fear and Sentiments will force them to re-examine the locations for Safe Haven to protect their wealth/Investments.

And Gold Investment may be one of the best mean to achieve their safe haven's goal.

Technicals on Gold

Gold registered 1264.4 being its highest and closed at 1254.15 last week.

On Daily Chart, Gold closed near the upper Bollinger Bands and above the Tenkan-sen line, 

The closing candles on last Friday close on both H1 and H4 chart indicates some degree of Bull Exhaustion and it  may lead to a mild pull back soon prior to its Northern Bullish Journey., However, on longer time frames, Gold is BULLISH.

The Present Indicators may not be very reliable  for Gold beyond the recent high 1264.40 , We need to observe  its movement on next market open so as to update all technical indicators to have  a better / meaningful direction/ prediction on Gold's next Big Move.

Daily Chart for Gold below:-

H4 Chart for Gold

Happy Trading

Gold-- will it hit 1500 soon

Gold continues to move in a Rising Trend Channel . From Chart B, We do spot a Head and shoulder Formation with a deep U connected with a Long handle toward the end, a pattern indicating its Bullish Trend.

The Gold has just touched the 1250 level which is almost lying in the mid of the Rising Trend channel.

Technicals indicate BULLISH near/mid term, , with immediate resistance at 1265, above this level may expose  1375 (50% between  1044 low to 1265 high).) , and beyond.

Rising Trend Channel

Head and Shoulder formation

Daily chart

Happy trading

Crude is Heading to 60/bbl ??

Due to the  heavy sell down ON  all major Equity Markets below the 200 EMA, (FTSE, S & P 500, DAX, HSI, NIKKE),  FEARING FOR THE POSSIBLE PROLONGED RECESSION,  The Crude is on a Heavy SELL down  today breaking the Critical 67.50 level.. If you see the Chart, below, breaking below 67 decisively will expose  60 .

Just be patient to wait for the decisive breaking below the 67 level.

Triple Top for Silver, heading south towards 12.0 ??

1.0) Following the Bearish trend for Gold, The silver has showed a Triple Tops, so Technically, it may head South towards the 12.0 level?

So , be positioning  yourself  now well for this trading opportunity.

Can Gold sustain above 1200 level ??

1) Gold is predicted to go below the 1210 , in view of the fact that Gold above 1200 is considered very expensive even though it is deemed to be a safe haven asset. But comparing the relatively  good yield on the USD currency-related  Trading, and the relative weakness on both Equity and other commodities, it is thus logically assumed that  Traders will dump Gold and switch their positions.  The price action below 1210 will send the gold towards the 1100 level.

I have therefore  executed  my above comments with respective Trading Actions immediately.

Will crude break the 60 level soon??

1)As confidence on the recovery being tanked especially Europe, coupled with embattled Euros, with the relative strengthening of USD, The subsequence price action breaking below 65/66 will drift the Crude towards below 60 level very quickly.

So Traders be  alert on your positioning !

Taking profit on Gold and Crude Future NOW

The safe heaven games are unwound.

Take all your profits for the Crude(Up now, above 72.50) and Gold(down 0.5% now) Tradings and /or thin down /reduce exposure your positions right now

Crude oil IS TRADED below 70,, and Gold above 1240 ??

In view of the fear in the weakness of the  world future economy and instability of the Euros Union, The Crude oil has been subjected to severe SELL Down by traders. It was  just traded below USD 70,  ten  minutes ago.

Similarly, Traders are looking for relatively SAFE  commodity such as Gold and Silver, and Gold has just been raised to above USD1240, HEADING  towards the psychological Resistance level at 1350, an all time High  level.!!

The Crude oil may drift down below 60  in short terms,,  and the Gold shall cross the 1300 level soon, basing on both the Technical Analysis and the Bearish sentiments in the Stocks/Stock indices Futures in both Europe/ Asia/US.

Can comex GOLD TRADE OVER $1300 PER OUNCE SOON ?

Today COMEX Gold HAS TRADED  AT  $ 1245 per ounce which is  a all time high level.. Indicators indicate that over $1300 level may be possible ,,  in addition to the tendency of Investors looking for safety heaven, I am not surprised at all that the GOLD price will exceed $1300 crazy level  in the next few trading days !

Keep watching the trend and looking for opportunity for Selling opportunity !!