Gold and Silver Continues to Retrace?

Hi All, This is just a quick update on Gold and Silver. Like it or not, both of these precious metals are highly correlated and it is not at all surprising to see them behave in similar patterns. Gold Price (Click on image for larger view) Silver Price (Click on image for larger view) Anyway,…

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Gold – Learn to Switch Views

(Click on image for larger view) Hi All, On 3rd April, I made a comment that price could break or bounce the strong support level around 1530  (see article). Personally, I was looking for price to bounce but price broke below it instead. Was I surprise? Absolutely not, we should always be prepared to switch our…

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Weekly Commentary: 14th Apr 2013

Previous weekly commentary: Commentary on 07 Apr 2013 Hi Readers, As mentioned last week, I was expecting the USD index to close lower – and it did. At the moment, it looks like there is  room for the dollar to go further lower, with the next major support level being around $81.50. Let’s see if the…

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Weekly Commentary: 7th Apr 2013

Previous weekly commentary: Commentary on 31st Mar 2013 Hi Readers, This week, although the USD index closed slightly lower, it did not move much compared to previous week. The decently high test bar on Thursday gives me indication that it is due for a bigger pull back than the one we had on 24th Mar. I…

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Video: Gold in an Elliot Wave 5 April 2013

A Brief description of how Gold is potentially forming an Elliot Wave pattern. Note: This is my second market video. Any feedback will be greatly appreciated.  

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Gold – To Bounce or To Break?

(Click on image for larger view) Hi All, Just a quick update on Gold. This metal has been cycling healthily downwards for awhile now (as shown by channel). Apart from a short term support level around 1556 (Not drawn), it is also about to hit a major road block around 1530. In an ideal world, price would…

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Weekly Commentary: 24th Mar 2013

Previous weekly commentary: Commentary on 17th Mar 2013 Hi Readers, The USD index has been pretty bullish since early February. Nonetheless, price seems a little over extended at the moment. On top of that, it looks like it made a double top recently (14th and 19th March) around the $83 price level. With that, my near…

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Gold – Will It Continue South?

(Click on image for larger view) Hi All, It has been awhile since I looked at this precious metal. In Feb, Gold broke out of a long term triangle (see article). Since then, price has been quite flat… until recently. As price moves higher, I am keen to see how price will react to the…

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Weekly Commentary: 24th Feb 2013

Previous commentary: Commentary on 17th Feb 2013 Hi Readers, The USD index broke a new high this week and closed around $81.50. Price stalled at another resistance level that was tested in mid Jun 2012 and mid Nov 2012. These 2 are fairly strong levels and I will be watching closely to see how price will unveils…

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Weekly Commentary: 10th Feb 2013

Previous commentary: Commentary on 3rd Feb 2013 Hi Readers, As mentioned in my previous weekly commentary (see article), after the USD index formed a low test bar on 31st Jan, the dollar made a strong rally. After failing to break below $79, it looks like the bulls are back. Let’s see if the dollar can move…

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