Gold – No Clear Signals Yet

(Click on image for larger view)  Hi Traders, Above is the Gold on a weekly chart. Looking at the big picture, price has not been showing much direction. While price is moving with lower lows and lower highs, price seems to be narrowing into a wedge pattern. In fact, that’s a clear consolidation pattern. How…

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Gold – What Does It Mean?

  Hello Traders, Hope you are doing well. This is just a quick update on this precious metal. As mentioned on the 31st July (see article), Gold has been consolidating since mid 2013 and it has been testing a long term support level around $1180. Price broke below that level on the 31st Oct –…

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Gold – The Road Map Ahead

(Click on image for larger view) Hi All, Apologies for being quiet, in case you haven’t realised, I’ve been doing some DIY on the website. If you have a chance, please let me know what you think? More importantly, let me know if there are any areas for improvement. 🙂 All right, back to the…

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Gold – What is it doing now?

(Click on image for larger view) Hi All, Just a quick update on Gold. After seeing the Engulfing bar on the 15th July (see article), I took a short trade and price became really choppy. Thankfully, it was a break even trade. Since then, the market hasn’t given me anything substantial yet. So, instead of…

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Gold – Engulfing Bar Showing Sellers’ Dominance

(Click on image for larger view) Hi All, Just a quick update on Gold. This precious metal tested the 1331 Resistance level a few days ago but it did not give any convincing price action (I would much prefer a bullish trend bar closing above that level). Unfortunately, because we did not get a bullish…

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Gold – The Tug-of-War Continues

(Click on image for larger view) Hi All, Just a quick update on my favourite metal. On the 29th May (see article), Gold broke out of a fairly significant consolidation triangle. If you have been following my posts, you would also know that I’m a big advocate that break outs gives us a higher probability…

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Gold – A Retest Before the Bears step In?

(Click on image for larger view) Hi All, Here’s a quick update on Gold. A few weeks ago (see article), I mentioned that Gold was consolidating hard and it was about to breakout of a triangle pattern. In fact, price broke out on the 27th May. Since then, I have been waiting for a pullback…

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Gold – Breaking Out Lower

(Click on image for larger view) Hi All, Gold was consolidating hard since my last commentary (see article). In fact, for those of you who picked it up, gold formed a symmetric triangle pattern (see above). Since then, price has broken out from both the triangle and the range. Now that price has made a…

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Gold – What’s on the Mind of Traders?

  (Click on image for larger view)  Hi All, As mentioned on 20th Mar (see article), it was established that price is sitting in the middle between a strong Resistance (~1430) and a strong Support (~1180). As I write this post, that remains true. Also, since my last commentary on Gold (see article), price failed to…

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Gold – Patience Trumps Gold Anytime

(Click on image for larger view) Hi Traders, Since my last commentary on 20th March (see article), price broke out of the price channel, tested another soft support level (~1724) and managed to bounced off it. Looking at the precious metal again, it’s now back to test that level since that last bounce. Because the soft…

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