Gold

[ashaab]

Gold reversed again after reaching around 1552.00, where the metal confirmed the strong effect of this barrier. Therefore, negative pressures remain evident driven by the descending channel and Stochastic in addition to the EMA 20. In general, our negative expectations remain as they are as long as gold is stable below 1561.00 today .



Recommendation : Based on the charts and explanations above our opinion is selling gold below 1552.00, targeting 1540.00, 1536.00 and 1529.00 and stop loss above 1561.00 might be appropriate.

[yogesh]

what a strong move downward yesterday.
it mirrored exactly the situation in oil. so it seems that gold will stay bearish for this week.
it is gonna be interesting to see how far gold will fall.

on a second thought, it might go up a bit before plunging further down below $1540.

We can expect good support/buying near 1540 and so can expect a rebound last time 1530 worked as support, and this time if it rebounds from 1540 it would be good sign for bulls, in case it slip below 1525 next support may only be found at 1480

[100 to 1,000]

what a strong move downward yesterday.
it mirrored exactly the situation in oil. so it seems that gold will stay bearish for this week.
it is gonna be interesting to see how far gold will fall.

on a second thought, it might go up a bit before plunging further down below $1540.

[Sondag]

When Aussie got pressure, so did with gold. Gold now is trying to reach its support level at 1531.60, and I expect some correction at that level for minimum 1500 pips. But if this pair went higher than 1568.10, the scenario will be fail.

[vampire]

XAUUSD on my look also on still probably more bearish - I can say this - it's because the yesterday candle look double top - so yes, on today movement, I see the nice probably more bearish here till max. to near that 1530.xx, I see. And make Sell OP here = yes nice idea with SL apply above the price 1580.xx till 1585.xx, I see.
[IMG][/IMG]

[ashaab]

Gold is negatively biased, while the downside pressures might continue to weigh on the metal supported by approaching the resistance of 1582.00. But, technical circumstances are still as they are, while stability above 1561.00 suggests the return of the upside move anytime.



Recommendation : Based on the charts and explanations above, our opinion is buying gold around 1572.00 targeting 1599.00 and 1608.00 and stop loss with 4-hour closing below 1552.00 might be appropriate

[vampire]

Till today opening price - I see - Gold on still consolidation but with look to be more (still) bearish, I see, but with weak movement. So, because this sideways and weak movement, I see it's better to just ignore this pair setup - truly - I still see the sideways price here and no nice action to take new OP here for now = just wait and see

[Sondag]

Well, gold is trying to bullish but still got some difficulties. But I still expect Gold can reach the level of 1589.20 for today. And I hope it can go further to 1594.00. The scenario will be fail, only if Gold went lower than 1550.

[100 to 1,000]

just as crude oil lost the gain made yesterday the gain in gold also disappeared. probably the market is still looking for consolidation after strong move quite some time.
there is still doubt whether the market will go up or down the next trading days. so we'll just have to wait and see which side can show strength.

The spot price of gold hit a new record of U.S. $ 1894.15/oz and short-term increase could gather pace during the week after market participants continue to seek an alternative reserve currency.

are you kidding?
the price of spot gold is now at $1,571 and the highest for this year was in February and that too is below $1,894.15.

[sparkle23]

The spot price of gold hit a new record of U.S. $ 1894.15/oz and short-term increase could gather pace during the week after market participants continue to seek an alternative reserve currency.