Daily Gold Review: http://www.hx9999.com/en/trend_697.html
Market Reviews of the Pervious Day:
During NY session on 25 Apr, the greenback rebounded slightly. Dollar index moving sideway around level of 74. Narrow moving ranges were seen in the majority. Trend should depend on interest rate decision of the Federal Reserve announced at GMT+8 00:30 and News Press held at GMT+8 02:15 on Thursday.
Gold ended in red on 25 Apr. Technical divergenceand profit taking cause gold erratic fell down. Pressure of correction was increasing.
Key Economic Data and Events:
Astralia - Public Holiday
GMT+8 14:00 Switzerland UBS Consumption Index (Mar)
GMT+8 14:00 Switzerland Balance of Payments (Mar)
GMT+8 22:00 U.S. Conference Board Consumer Confidence Index (Apr)
Gold:
Gold opened at 1509.75 USD on 25 Apr, with intra-day Low at 1502.19 USD and intra-day High at 1518.26 USD, eventually closing at 1507.20 USD. Intra-day range of 16.07 USD was seen.
Gold retreated after surging high yesterday. Downtrend extended in the Asian session, quoting 1494.30 USD.
Technically uptrend stayed firm according to daily chart but correction was likely to continue.
Price tended to test the support from the connection of day highs of 7 Mar as well as 11 Apr and the lower of the uptrend since 1 Apr around 1492 USD. The next support level should be distributed at about 1476 USD.
Trading suggestions:
Longing is suggested at about 1490 USD with sideway strategy.
Tuesday, April 26, 2011
HXPM Gold market reviews on Apr. 25th, 2011: Correction of bullish trend because of short trend divergence
Daily Gold Review: http://www.hx9999.com/en/trend_694.html
Market Reviews of the Pervious Day:
During NY session on 22 Apr, market was quiet due to the Easter holiday. Trends were under influences of downside movements of dollar index on Thursday. While the greenback slightly rebounded in the later session, the minors tended to fluctuate within narrow ranges.
Gold extended bullish trend on 22 Apr in narrow range. Trade was sparse during holiday thus momemtums reduced. Technical divergence also hindered uptrend of gold.
Key Economic Data and Events:
New Zealand, Astralia, Hong Kong, Singapore, Italy, Switzerland, France, U.K., Germany, U.S., Canada - Public Holiday
GMT+8 22:00 U.S. New Home Sales (Mar)
Gold:
Gold opened at 1504.30 USD on 22 Apr, with intra-day Low at 1502.09 USD and intra-day High at 1511.97 USD, eventually closing at 1507.04 USD. Intra-day range of 9.87 USD was seen.
Gold settled slightly higher and no overnight correction was seen in the recent trend. Range narrowed on Friday with sideway movement.
Technically uptrend stayed firm according to daily chart but short-term divergence was significant. Lower support should be at about 1480-1488 USD.
Upper target should be distributed at about 1546 USD. Yet Long-term buyers should notice that momentums might be exhausted after striving upward. Nevertheless trend seemed to remain at the moment and trade along trend was recommended.
Trading suggestions:
Investors should continue long-term strategy, holding long position at below 1502 USD with profit taking control. Buy on dip is suggested if there is a chance for the price move down to the support line.
Market Reviews of the Pervious Day:
During NY session on 22 Apr, market was quiet due to the Easter holiday. Trends were under influences of downside movements of dollar index on Thursday. While the greenback slightly rebounded in the later session, the minors tended to fluctuate within narrow ranges.
Gold extended bullish trend on 22 Apr in narrow range. Trade was sparse during holiday thus momemtums reduced. Technical divergence also hindered uptrend of gold.
Key Economic Data and Events:
New Zealand, Astralia, Hong Kong, Singapore, Italy, Switzerland, France, U.K., Germany, U.S., Canada - Public Holiday
GMT+8 22:00 U.S. New Home Sales (Mar)
Gold:
Gold opened at 1504.30 USD on 22 Apr, with intra-day Low at 1502.09 USD and intra-day High at 1511.97 USD, eventually closing at 1507.04 USD. Intra-day range of 9.87 USD was seen.
Gold settled slightly higher and no overnight correction was seen in the recent trend. Range narrowed on Friday with sideway movement.
Technically uptrend stayed firm according to daily chart but short-term divergence was significant. Lower support should be at about 1480-1488 USD.
Upper target should be distributed at about 1546 USD. Yet Long-term buyers should notice that momentums might be exhausted after striving upward. Nevertheless trend seemed to remain at the moment and trade along trend was recommended.
Trading suggestions:
Investors should continue long-term strategy, holding long position at below 1502 USD with profit taking control. Buy on dip is suggested if there is a chance for the price move down to the support line.
HXPM Gold Weekly Gold Review 110425: Gold brokethrough big figure resistance, tended to correct at high in short run
Weekly Gold Review: http://www.hx9999.com/en/comment_week_696.html
Last week gold brokethrough the big figure resistanceof 1,500 USD and reached the highest 1,511.97 USD, closing at the upper range 1,507.04 USD.
During the early of the week gold tested the short-term moving average in daily chart and gained support of dip buying. Single way of trend developed and market attitute was aggressive. Gold continued to rise steadily in the following trading sessions.
The greenback fell closed to the all time low under pressure of low interest rate and severe budget deficit. Gold was favoured as a hedging tools.
Silver also performed bullish with the support of short-term moving average in daily chart. Momemtums were sufficient to support the commodity to hit the 47.72 USD record, closing with a long bullish candlestick in the week.
Technically both the metals were on uptrends in medium and long runs. Techinal target of gold should ae 1,546 USD while silver tended to approach the 50 USD psychological level.
According to patterns in the week, trends remained to be bullish in the coming session. However corrections might occur as no overnight adjustment had been seen yet and ranges narrowed.
Lower support of gold and silver should be at 1,480-1,488 USD and 45-44.50 USD respectively. While range should be 1,480-1,530 USD for gold and 45-50 USD for silver.
Last week gold brokethrough the big figure resistanceof 1,500 USD and reached the highest 1,511.97 USD, closing at the upper range 1,507.04 USD.
During the early of the week gold tested the short-term moving average in daily chart and gained support of dip buying. Single way of trend developed and market attitute was aggressive. Gold continued to rise steadily in the following trading sessions.
The greenback fell closed to the all time low under pressure of low interest rate and severe budget deficit. Gold was favoured as a hedging tools.
Silver also performed bullish with the support of short-term moving average in daily chart. Momemtums were sufficient to support the commodity to hit the 47.72 USD record, closing with a long bullish candlestick in the week.
Technically both the metals were on uptrends in medium and long runs. Techinal target of gold should ae 1,546 USD while silver tended to approach the 50 USD psychological level.
According to patterns in the week, trends remained to be bullish in the coming session. However corrections might occur as no overnight adjustment had been seen yet and ranges narrowed.
Lower support of gold and silver should be at 1,480-1,488 USD and 45-44.50 USD respectively. While range should be 1,480-1,530 USD for gold and 45-50 USD for silver.
Friday, April 22, 2011
HXPM Gold market reviews on Apr. 22nd, 2011: Correction could occur while long-term strategy continued
Daily Gold Review: http://www.hx9999.com/en/trend_692.html
Market Reviews of the Pervious Day:
During NY session on 21 Apr, as risk appetite buoyed and threaten of inflation increased, the dollar index fell below the level of 74.00. The greenback tumbled to near all time low under pressure from low interest rate and severe budget deficit.
Gold ended in green again on 21 Apr on weakening greenback and investment demand. The metal, as a hedging tool against depreciation of dollar, had consecutively closed at record for 5 sessions
Key Economic Data and Events:
New Zealand, Astralia, Hong Kong, Singapore, Italy, Switzerland, France, U.K., Germany, U.S., Canada - Public Holiday
GMT+8 04:30 U.S. Weekly Change in Foreign Central Banks’ U.S. Treasury Holdings (20 Apr)
Gold:
Gold opened at 1501.37USD on 21 Apr, with intra-day Low at 1500.83USD and intra-day High at 1509.16 USD, eventually closing at 1504.52USD. Intra-day range of 8.33USD was seen.
Gold continued to head higher again within smaller range on Thursday, closing with a short bullish candlestick with upper shadow.
Technically uptrend was firm according to daily chart, but correction might occur in short run.
Upper target should be distributed at about 1546 USD. Yet Long-term buyers should notice that momentums might be exhausted after striving upward. Nevertheless trend seemed to remain at the moment and trade along trend was recommended.
Trading suggestions:
Investors should continue long-term strategy, holding long position at below 1495 USD with profit taking control. Uptrend seemed to remain so trade along trend was recommended.
Market Reviews of the Pervious Day:
During NY session on 21 Apr, as risk appetite buoyed and threaten of inflation increased, the dollar index fell below the level of 74.00. The greenback tumbled to near all time low under pressure from low interest rate and severe budget deficit.
Gold ended in green again on 21 Apr on weakening greenback and investment demand. The metal, as a hedging tool against depreciation of dollar, had consecutively closed at record for 5 sessions
Key Economic Data and Events:
New Zealand, Astralia, Hong Kong, Singapore, Italy, Switzerland, France, U.K., Germany, U.S., Canada - Public Holiday
GMT+8 04:30 U.S. Weekly Change in Foreign Central Banks’ U.S. Treasury Holdings (20 Apr)
Gold:
Gold opened at 1501.37USD on 21 Apr, with intra-day Low at 1500.83USD and intra-day High at 1509.16 USD, eventually closing at 1504.52USD. Intra-day range of 8.33USD was seen.
Gold continued to head higher again within smaller range on Thursday, closing with a short bullish candlestick with upper shadow.
Technically uptrend was firm according to daily chart, but correction might occur in short run.
Upper target should be distributed at about 1546 USD. Yet Long-term buyers should notice that momentums might be exhausted after striving upward. Nevertheless trend seemed to remain at the moment and trade along trend was recommended.
Trading suggestions:
Investors should continue long-term strategy, holding long position at below 1495 USD with profit taking control. Uptrend seemed to remain so trade along trend was recommended.
Thursday, April 21, 2011
HXPM Gold market reviews on Apr. 21st, 2011: Long-term strategy extended with trend
Daily Gold Review: http://www.hx9999.com/en/trend_690.html
Market Reviews of the Pervious Day:
During NY session on 20 Apr, on downgrade of the U.S. credit rating outlook, the dollar index which measured performance of the greenback agains a basket of currencies dropped to 74.46. Risk appetite was buoyed with stronger stock markets. In addition, Greece finance minister said no debt restructuring would occur for the state, extending gains of euro against dollar.
Gold settled in green on 20 Apr, supporting by weakening greenback, rebounding oil price, European debt woes, etc. The commodty rose to breach the level of 1500 USD, hitting intraday record as the previous 3 sessions.
Key Economic Data and Events:
GMT+8 16:00 Germany IFO Business Climate Index (Apr)
GMT+8 16:30 U.K. Retail Sales (Mar)
GMT+8 20:30 Canada Retail Sales (Feb)
GMT+8 20:30 U.S. Weekly Initial Jobless Claims (16 Apr)
GMT+8 22:00 U.S. Conference Board Leading Indicator (Mar)
Gold:
Gold opened at 1495.77 USD on 20 Apr, with intra-day Low at 1493.10 USD and intra-day High at 1505.80 USD, eventually closing at 1501.97 USD. Intra-day range of 12.70 USD was seen.
Gold extended uptrend on Wednesday as dollar fell sharply and threaten of inflation continued to increase. Trend headed upward during the Asian session, quoting 1507 USD.
Technically upside patterns were seen in both hourly and daily charts. Yet correction might occur in short run.
Upside range since 1 Apr stayed firm. Uptrend remained so trade with trend was recommended.
Trading suggestions:
Investors should continue long-term strategy and hold long positions. Morderate buying is suggested if gold rebounds to 1500 USD.
Market Reviews of the Pervious Day:
During NY session on 20 Apr, on downgrade of the U.S. credit rating outlook, the dollar index which measured performance of the greenback agains a basket of currencies dropped to 74.46. Risk appetite was buoyed with stronger stock markets. In addition, Greece finance minister said no debt restructuring would occur for the state, extending gains of euro against dollar.
Gold settled in green on 20 Apr, supporting by weakening greenback, rebounding oil price, European debt woes, etc. The commodty rose to breach the level of 1500 USD, hitting intraday record as the previous 3 sessions.
Key Economic Data and Events:
GMT+8 16:00 Germany IFO Business Climate Index (Apr)
GMT+8 16:30 U.K. Retail Sales (Mar)
GMT+8 20:30 Canada Retail Sales (Feb)
GMT+8 20:30 U.S. Weekly Initial Jobless Claims (16 Apr)
GMT+8 22:00 U.S. Conference Board Leading Indicator (Mar)
Gold:
Gold opened at 1495.77 USD on 20 Apr, with intra-day Low at 1493.10 USD and intra-day High at 1505.80 USD, eventually closing at 1501.97 USD. Intra-day range of 12.70 USD was seen.
Gold extended uptrend on Wednesday as dollar fell sharply and threaten of inflation continued to increase. Trend headed upward during the Asian session, quoting 1507 USD.
Technically upside patterns were seen in both hourly and daily charts. Yet correction might occur in short run.
Upside range since 1 Apr stayed firm. Uptrend remained so trade with trend was recommended.
Trading suggestions:
Investors should continue long-term strategy and hold long positions. Morderate buying is suggested if gold rebounds to 1500 USD.
Tuesday, April 19, 2011
HXPM Gold market reviews on Apr. 20th, 2011: Correction occured in bullish trend, long-term strategy continued
Daily Gold Review: http://www.hx9999.com/en/trend_688.html
Market Reviews of the Pervious Day:
During NY session on 19 Apr, European Central Bank was expected to hike interest despite countries of Euro Zone such as Greece were still in the trouble water of credit risk, supporting euro to rebound sharply.
Gold had another green end on 19 Apr. Defensive demand flowed in with deteriorating debt woes among the U.S. and Europe. And also the dollar was vulnerable. Gold futures continued to rise and once breach the important psychological level of 1500 USD during the session.
Key Economic Data and Events:
Japan� Provisional Trade Statistics (Mar), Tertiary Index (Feb)
Australia� Westpac – Melbourne Institute Index of Economic Activity Report (Feb), Import & Export Price Index (1st Q)
U.K.� Minutes of Bank of England Monetary Policy Commitee Meeting
Europe� European Central Bank Governing Council Meeting, European Union 2012 Budgets
U.S.� Mortgage Bankers Association Index of Mortgage Application Activity, Existing-Home Sales, Energy Information Administration Petroleum Report
Gold:
Gold opened at 1494.80 USD on 19 Apr, with intra-day Low at 1487.75 USD and intra-day High at 1498.76 USD, eventually closing at 1495.94 USD. Intra-day range of 11.01 USD was seen.
Gold slightly corrected on Tuesday, closing at another record. Short-term progress should continue according to subordinate pattern of hourly chart.
Soaring Oil and grain prices led to increasing inflation worries. Defensive demand flowed in as European debt problem remained. The U.S. credit risk also supported gold price to extend the uptrend.
Technically upside patterns were seen in both hourly and daily charts. Trend remainedand seemedno reversal at this moment.So trade with trend was recommended.
At the moment lower support should be at about 1488 USD.
Trading suggestions:
Investors should continue long-term strategy and hold long positions. Morderate buying is suggested if gold rebounds to 1488 USD.
Market Reviews of the Pervious Day:
During NY session on 19 Apr, European Central Bank was expected to hike interest despite countries of Euro Zone such as Greece were still in the trouble water of credit risk, supporting euro to rebound sharply.
Gold had another green end on 19 Apr. Defensive demand flowed in with deteriorating debt woes among the U.S. and Europe. And also the dollar was vulnerable. Gold futures continued to rise and once breach the important psychological level of 1500 USD during the session.
Key Economic Data and Events:
Japan� Provisional Trade Statistics (Mar), Tertiary Index (Feb)
Australia� Westpac – Melbourne Institute Index of Economic Activity Report (Feb), Import & Export Price Index (1st Q)
U.K.� Minutes of Bank of England Monetary Policy Commitee Meeting
Europe� European Central Bank Governing Council Meeting, European Union 2012 Budgets
U.S.� Mortgage Bankers Association Index of Mortgage Application Activity, Existing-Home Sales, Energy Information Administration Petroleum Report
Gold:
Gold opened at 1494.80 USD on 19 Apr, with intra-day Low at 1487.75 USD and intra-day High at 1498.76 USD, eventually closing at 1495.94 USD. Intra-day range of 11.01 USD was seen.
Gold slightly corrected on Tuesday, closing at another record. Short-term progress should continue according to subordinate pattern of hourly chart.
Soaring Oil and grain prices led to increasing inflation worries. Defensive demand flowed in as European debt problem remained. The U.S. credit risk also supported gold price to extend the uptrend.
Technically upside patterns were seen in both hourly and daily charts. Trend remainedand seemedno reversal at this moment.So trade with trend was recommended.
At the moment lower support should be at about 1488 USD.
Trading suggestions:
Investors should continue long-term strategy and hold long positions. Morderate buying is suggested if gold rebounds to 1488 USD.
Monday, April 18, 2011
HXPM Gold market reviews on Apr. 19th, 2011: Gold settled another record after psychological level berak through
Daily Gold Review: http://www.hx9999.com/en/trend_686.html
Market Reviews of the Pervious Day:
During NY session on 18 Apr, defensive demand soared due to European debt woes and the U.S. outlook being downgraded. The greenback rose sharply against the majorities including euro. Part of the currenies performedvolatile.
Gold ended much higher on 18 Apr. S.&P. Lowered the outlook of the U.S. credit rating from "stable" to "negative", arousing fears among financial status of the state. In addition, market eyed on the European debt crisis and inflation in China.
Key Economic Data and Events:
GMT+8 15:30 Germany Manufactoring Purchasing Manager Index (Apr)
GMT+8 16:00 Euro Zone Manufactoring Purchasing Manager Index (Apr)
GMT+8 17:00 Euro Zone Construction Spending (Feb)
GMT+8 19:00 Canada Consumer Price Index (Mar)
GMT+8 20:30 Canada Wholesale sales (Feb)
GMT+8 20:30 U.S. Housing Starts (Mar)
GMT+8 20:30 U.S. Building Permits (Mar)
Gold:
Gold opened at 1486.85 USD on 18 Apr, with intra-day Low at 1477.82 USD and intra-day High at 1497.76 USD, eventually closing at 1494.82 USD. Intra-day range of 19.94 USD was seen.
Gold extended upside track on Monday. After testing the support of moving averagepriceupmovedagain.Uptrend continued according to daily chart and upside range since 1 Apr was completed.
The outlook of the largest economy in the world being downgraded increased the investment value of precious metals. Massing capital inflow pushed up gold price during the session. The European debt woes and inflation fears also continued to support the commodity.
Technically upside patterns were seen in both hourly and daily charts. Trend remainedand seemedno reversal at this moment.So trade with trend was recommended.
At the moment lower support should be about 1488 USD.
Trading suggestions:
Investors should continue long-term strategy and hold long positions. Morderate buying is suggested if gold rebounds to 1488 USD.
Market Reviews of the Pervious Day:
During NY session on 18 Apr, defensive demand soared due to European debt woes and the U.S. outlook being downgraded. The greenback rose sharply against the majorities including euro. Part of the currenies performedvolatile.
Gold ended much higher on 18 Apr. S.&P. Lowered the outlook of the U.S. credit rating from "stable" to "negative", arousing fears among financial status of the state. In addition, market eyed on the European debt crisis and inflation in China.
Key Economic Data and Events:
GMT+8 15:30 Germany Manufactoring Purchasing Manager Index (Apr)
GMT+8 16:00 Euro Zone Manufactoring Purchasing Manager Index (Apr)
GMT+8 17:00 Euro Zone Construction Spending (Feb)
GMT+8 19:00 Canada Consumer Price Index (Mar)
GMT+8 20:30 Canada Wholesale sales (Feb)
GMT+8 20:30 U.S. Housing Starts (Mar)
GMT+8 20:30 U.S. Building Permits (Mar)
Gold:
Gold opened at 1486.85 USD on 18 Apr, with intra-day Low at 1477.82 USD and intra-day High at 1497.76 USD, eventually closing at 1494.82 USD. Intra-day range of 19.94 USD was seen.
Gold extended upside track on Monday. After testing the support of moving averagepriceupmovedagain.Uptrend continued according to daily chart and upside range since 1 Apr was completed.
The outlook of the largest economy in the world being downgraded increased the investment value of precious metals. Massing capital inflow pushed up gold price during the session. The European debt woes and inflation fears also continued to support the commodity.
Technically upside patterns were seen in both hourly and daily charts. Trend remainedand seemedno reversal at this moment.So trade with trend was recommended.
At the moment lower support should be about 1488 USD.
Trading suggestions:
Investors should continue long-term strategy and hold long positions. Morderate buying is suggested if gold rebounds to 1488 USD.
Sunday, April 17, 2011
HXPM Gold market reviews on Apr. 18th, 2011: Range movements, previous strategy should remain
Daily Gold Review: http://www.hx9999.com/en/trend_683.html
Market Reviews of the Pervious Day:
During NY session on 15 Apr, curreny market was stable while the greenback moved within narrow range. The majorities maintain technical patterns. The U.S. economic data improved, whereas Greece debt woes deepened. Thus trends of hedging currencies and commodity currencies differed.
Gold ended much higher on 15 Apr. Hedging demand flowed in precious metals against increasing inflation pressure. The session high and closing of gold made records again.
Key Economic Data and Events:
GMT+8 22:00 Euro Zone Consumer Confidence Index (Apr)
Gold:
Gold opened at 1474.55 USD on 15 Apr, with intra-day Low at 1471.73 USD and intra-day High at 1488.13 USD, eventually closing at 1486.84 USD. Intra-day range of 16.60 USD was seen.
Gold soared on Friday, closing with a long bullish candlestick. Uptrend resumed according to daily chart.
The economic data reported during the session indicated that inflation pressure was increasing on rising oil and grain prices. Massive hedging demand therefore flowed into the precious metals against inflation risk.
Technically apparent upside trend was seen according to daily chart while technical indicators had been recovering. Yet price stayed apart from short-term MA and trendline.
Trading suggestions:
The upper of upside range since 15 Mar was triggered and correction may occur. Long-term strategy is suggested but investors should not be too aggressive. Upper of 1490-1500 USD should be the partial target.
Silver: extended uptrend but not timely for long
Silver opened at 42.17 USD on 15 Apr, with intra-day Low at 41.84 USD and intra-
day High at 43.01 USD, eventually closing at 43.01 USD. Intra-day range of 1.16 USD was seen.
Silver continued to rise on Friday, hitting the new record. Uptrend remained according to daily chart but was approaching the upper of upside range since 1 Apr. While price stayed apart from the short-term MA and trendline, support was not likely to be stable.
Trading suggestions:
Investors should continue long-term strategy with profit-taking positions. Short-term buying opportunities are available if standard continuation exists in hourly chart.
Market Reviews of the Pervious Day:
During NY session on 15 Apr, curreny market was stable while the greenback moved within narrow range. The majorities maintain technical patterns. The U.S. economic data improved, whereas Greece debt woes deepened. Thus trends of hedging currencies and commodity currencies differed.
Gold ended much higher on 15 Apr. Hedging demand flowed in precious metals against increasing inflation pressure. The session high and closing of gold made records again.
Key Economic Data and Events:
GMT+8 22:00 Euro Zone Consumer Confidence Index (Apr)
Gold:
Gold opened at 1474.55 USD on 15 Apr, with intra-day Low at 1471.73 USD and intra-day High at 1488.13 USD, eventually closing at 1486.84 USD. Intra-day range of 16.60 USD was seen.
Gold soared on Friday, closing with a long bullish candlestick. Uptrend resumed according to daily chart.
The economic data reported during the session indicated that inflation pressure was increasing on rising oil and grain prices. Massive hedging demand therefore flowed into the precious metals against inflation risk.
Technically apparent upside trend was seen according to daily chart while technical indicators had been recovering. Yet price stayed apart from short-term MA and trendline.
Trading suggestions:
The upper of upside range since 15 Mar was triggered and correction may occur. Long-term strategy is suggested but investors should not be too aggressive. Upper of 1490-1500 USD should be the partial target.
Silver: extended uptrend but not timely for long
Silver opened at 42.17 USD on 15 Apr, with intra-day Low at 41.84 USD and intra-
day High at 43.01 USD, eventually closing at 43.01 USD. Intra-day range of 1.16 USD was seen.
Silver continued to rise on Friday, hitting the new record. Uptrend remained according to daily chart but was approaching the upper of upside range since 1 Apr. While price stayed apart from the short-term MA and trendline, support was not likely to be stable.
Trading suggestions:
Investors should continue long-term strategy with profit-taking positions. Short-term buying opportunities are available if standard continuation exists in hourly chart.
HXPM Gold Weekly Gold Review 110418: Gold rallied to record with extended uptrend
Weekly Gold Review: http://www.hx9999.com/en/comment_week_685.html
Gold refreshed record on Friday. The day high was 1,488.20 USD, and the session closed at the near level of 1,486.70 USD. As no additional favourable factor was reported after reaching the previous record, the commodity once adjusted downward in the early of the week, falling to 1,451 USD on Tuesday. On Wednesday price floated within the relative narrow range of 1,452 – 1,462 USD, waiting for break through.
In the consecutive session the dollar index turned down under the influence of stronger euro. While oil rebounded from the weekly low of 105.5 USD, closing at almost the highest within the week 110 USD.
Gold also reacted with the striving silver. The later had retreated to 39.70 USD on Tuesday and gradually rallied. The day low and day high was 40.40 and 42.40 USD respectively on Thursday, which was a 5 % range, the largest in the week. Silver hit the 30-year high of 43 USD and closed at the said level on Friday.
Both commodities rallied in the later of the week and ended at record level. The upside trends were likely to extend in the coming week. The next targets of gold and silver should be 1,500 and 50 USD respectively. Yet it should be noticed that price fluctuation of silver might not only lead to increase in investment risk, but also more concerns from the regulatory parties. Investors should be alert risk of trading silver was rising as restrictions about margins and position amount might be tightened.
The next upper resistance of gold would be 1,500 USD and range would shift to 1,400-1,500 USD. The support of silver would be USD 38 but the high is still unpredictable. Next target would be 50 USD.
Gold refreshed record on Friday. The day high was 1,488.20 USD, and the session closed at the near level of 1,486.70 USD. As no additional favourable factor was reported after reaching the previous record, the commodity once adjusted downward in the early of the week, falling to 1,451 USD on Tuesday. On Wednesday price floated within the relative narrow range of 1,452 – 1,462 USD, waiting for break through.
In the consecutive session the dollar index turned down under the influence of stronger euro. While oil rebounded from the weekly low of 105.5 USD, closing at almost the highest within the week 110 USD.
Gold also reacted with the striving silver. The later had retreated to 39.70 USD on Tuesday and gradually rallied. The day low and day high was 40.40 and 42.40 USD respectively on Thursday, which was a 5 % range, the largest in the week. Silver hit the 30-year high of 43 USD and closed at the said level on Friday.
Both commodities rallied in the later of the week and ended at record level. The upside trends were likely to extend in the coming week. The next targets of gold and silver should be 1,500 and 50 USD respectively. Yet it should be noticed that price fluctuation of silver might not only lead to increase in investment risk, but also more concerns from the regulatory parties. Investors should be alert risk of trading silver was rising as restrictions about margins and position amount might be tightened.
The next upper resistance of gold would be 1,500 USD and range would shift to 1,400-1,500 USD. The support of silver would be USD 38 but the high is still unpredictable. Next target would be 50 USD.
HXPM Gold market reviews on Apr. 15th, 2011: Freshed records, but endurity under observation
Daily Gold Review: http://www.hx9999.com/en/trend_681.html
Market Reviews of the Pervious Day:
During NY session on 14 Apr, the greenback dropped against a basket of currencies. Swiss franc triggered record high and euro reached the 15-month high. It was expected that solvency crisis among Greece and Portugal would be under control. Moreove interest hikes of European Central Bank was likely to continue. The dollar would further weakened if the Federal Reserve’s poliy remained unchanged.
Gold ended higher on 14 Apr on the falling greenback, defensive demand, heating inflation woes. Market also eyed if Greece would seek debt restructuring. Gold rised sharply as those favourable factors mixed.
Key Economic Data and Events:
GMT+8 17:00 Euro Zone Consumer Price Index (Mar)
GMT+8 17:00 Euro Zone Balance of Payments (Feb)
GMT+8 20:30 U.S. Consumer Price Index (Mar)
GMT+8 21:10 U.S. Net Long-Term Capital Inflow (Feb)
GMT+8 20:30 U.S. Industrial Production (Mar)
Gold:
Gold opened at 1457.48 USD on 14 Apr, with intra-day Low at 1453.71 USD and intra-day High at 1474.92 USD, eventually closing at 1474.40 USD. Intra-day range of 21.21 USD was seen.
Cold headed upward on Thursday, closing with a long bulliush candlestick. Record of 1474.92 USD was hit during the early Asian session.
Technically apparent upside trend was seen according to daily chart while technical indicators had been recovering.
Gold was predicted to have a correction for the upside market on 28 Mar. Further upside momentums should be tentative.
Trading suggestions:
Correction should continue. Investors are suggested to reduce or close the long position. Selling pressure should exist if the commodity retreats to the lower of 1476 USD.
Market Reviews of the Pervious Day:
During NY session on 14 Apr, the greenback dropped against a basket of currencies. Swiss franc triggered record high and euro reached the 15-month high. It was expected that solvency crisis among Greece and Portugal would be under control. Moreove interest hikes of European Central Bank was likely to continue. The dollar would further weakened if the Federal Reserve’s poliy remained unchanged.
Gold ended higher on 14 Apr on the falling greenback, defensive demand, heating inflation woes. Market also eyed if Greece would seek debt restructuring. Gold rised sharply as those favourable factors mixed.
Key Economic Data and Events:
GMT+8 17:00 Euro Zone Consumer Price Index (Mar)
GMT+8 17:00 Euro Zone Balance of Payments (Feb)
GMT+8 20:30 U.S. Consumer Price Index (Mar)
GMT+8 21:10 U.S. Net Long-Term Capital Inflow (Feb)
GMT+8 20:30 U.S. Industrial Production (Mar)
Gold:
Gold opened at 1457.48 USD on 14 Apr, with intra-day Low at 1453.71 USD and intra-day High at 1474.92 USD, eventually closing at 1474.40 USD. Intra-day range of 21.21 USD was seen.
Cold headed upward on Thursday, closing with a long bulliush candlestick. Record of 1474.92 USD was hit during the early Asian session.
Technically apparent upside trend was seen according to daily chart while technical indicators had been recovering.
Gold was predicted to have a correction for the upside market on 28 Mar. Further upside momentums should be tentative.
Trading suggestions:
Correction should continue. Investors are suggested to reduce or close the long position. Selling pressure should exist if the commodity retreats to the lower of 1476 USD.
Wednesday, April 13, 2011
HXPM Gold market reviews on Apr. 14th, 2011: Range movements, previous strategy should remain
Daily Gold Review: http://www.hx9999.com/en/trend_679.html
Market Reviews of the Pervious Day:
During NY session on 13 April, performance of the greenback mixed on impressive economic data and downgrade of Japan's expected economic growth. Euro and yen slided and the former was expected to adjust gradually.
Gold closed in green on 13 Apr on rebounding oil price and floor buying. During the session price gained support as oil rallied. Yet the uptrend was pressed by the stronger greenback and retreated at closing, ended slightly higher.
Key Economic Data and Events:
GMT+8 16:00 Euro Zone ECB's Monthly Report (Apr)
GMT+8 17:00 Switzerland ZEW Investor Confidence Index (Apr)
GMT+8 20:30 Canada Manafacturing Orders (Feb)
GMT+8 20:30 U.S. Producer Price Index (Mar)
GMT+8 20:30 U.S. Weekly Initial Jobless Claims (9 Apr)
Gold:
Gold opened at 1453.28 USD on 13 Apr, with intra-day Low at 1451.60 USD and intra-day High at 1462.35 USD, eventually closing at 1457.41 USD. Intra-day range of 10.75 USD was seen.
Gold fluctuated in technical range on Wednesday. Selling pressure existed on the upper side of the trading range, closing in a short bullish candlestick with upper shadow.
Unrest among North Africa and Middle East extended and European debt woes remained. Gold gained support from safe haven buying but was under pressure of the stronger dollar, closing slightly higher.
Technically gold waspredicted to have a correction for the upside market on 28 Mar. Price should move sideway within range 1465-1440 USD, which was between the connection of the highest of 9 Nov and 7 Dec last year and the recent head and shoulders bottom.
There was apparent upside trend according to daily chart but oscillation should occur in short run. Potential divergence of MACD was distinct.
Trading suggestions:
Existing strategy should continue within range of 1465-1440 USD. As short-term uptrend ended correction is expected to remain.
Market Reviews of the Pervious Day:
During NY session on 13 April, performance of the greenback mixed on impressive economic data and downgrade of Japan's expected economic growth. Euro and yen slided and the former was expected to adjust gradually.
Gold closed in green on 13 Apr on rebounding oil price and floor buying. During the session price gained support as oil rallied. Yet the uptrend was pressed by the stronger greenback and retreated at closing, ended slightly higher.
Key Economic Data and Events:
GMT+8 16:00 Euro Zone ECB's Monthly Report (Apr)
GMT+8 17:00 Switzerland ZEW Investor Confidence Index (Apr)
GMT+8 20:30 Canada Manafacturing Orders (Feb)
GMT+8 20:30 U.S. Producer Price Index (Mar)
GMT+8 20:30 U.S. Weekly Initial Jobless Claims (9 Apr)
Gold:
Gold opened at 1453.28 USD on 13 Apr, with intra-day Low at 1451.60 USD and intra-day High at 1462.35 USD, eventually closing at 1457.41 USD. Intra-day range of 10.75 USD was seen.
Gold fluctuated in technical range on Wednesday. Selling pressure existed on the upper side of the trading range, closing in a short bullish candlestick with upper shadow.
Unrest among North Africa and Middle East extended and European debt woes remained. Gold gained support from safe haven buying but was under pressure of the stronger dollar, closing slightly higher.
Technically gold waspredicted to have a correction for the upside market on 28 Mar. Price should move sideway within range 1465-1440 USD, which was between the connection of the highest of 9 Nov and 7 Dec last year and the recent head and shoulders bottom.
There was apparent upside trend according to daily chart but oscillation should occur in short run. Potential divergence of MACD was distinct.
Trading suggestions:
Existing strategy should continue within range of 1465-1440 USD. As short-term uptrend ended correction is expected to remain.
Tuesday, April 12, 2011
HXPM Gold market reviews on Apr. 13th, 2011: Short-term oscillations during correction
Daily Gold Review: http://www.hx9999.com/en/trend_677.html
Market Reviews of the Pervious Day:
During NY session on 12 April, the greenback tumbled versus the hedging currencies on Japan nuclear crisis and persisting low yield. Euro rose to the important psychological level of 1.45 USD which was the highest since Jan 2010. Characteristics of technical trends were distinct.
Gold extended losses on 12 Apr on pullback oil price and profit taking. Some analysts adjusted the U.S. economic growth expectation downward. The negative global market emotion hit major commodity futures, pressing down the trend of gold.
Key Economic Data and Events:
GMT+8 13:30 France Consumer Price Index (Mar)
GMT+8 15:15 Switzerland Producer & Import Price Index (Mar)
GMT+8 16:30 U.K. Unemployment Rate (Mar)
GMT+8 17:00 Euro Zone Industrial Production (Feb)
GMT+8 20:30 U.S. Retail Sales (Mar)
GMT+8 22:00 U.S. Business Inventory (Feb)
GMT+8 22:30 Canada Central Bank’s Monetary Policy Report
Gold:
Gold opened at 1463.01 USD on 12 Apr, with intra-day Low at 1446.49 USD and intra-day High at 1467.22 USD, eventually closing at 1453.05 USD. Intra-day range of 20.73 USD was seen.
Gold settled lower on Tuesday, closing with a long bearish candlestick. Price was tentatively supported by the previous neckline of head and shoulders bottom.
Oil plunged in the session as it was believed that high oil price had hindered the demand. While the pullback eased inflation woes, certain safe haven buying withdrew from gold.
Technically gold was predicted to have a correction for the upside market on 28 Mar. Price should move sideway within range 1464-1446 USD, which was between the connection of the highest of 9 Nov and 7 Dec last year and the recent head and shoulders bottom.
There was apparent upside trend according to daily chart but oscillation should occur in short run. Potential divergence of MACD was distinct.
Trading suggestions:
Range trade strategy is suggested within 1464-1446 USD. As short-term uptrend ended correction is expected to remain.
Silver: moving downward to test lower support
Silver opened at 40.25 USD on 12 Apr, with intra-day Low at 39.77 USD and intra-
day High at 40.86 USD, eventually closing at 40. 09 USD. Intra-day range
of 1.08 USD was seen.
Silver continue to fall on Tuesday but range narrowed. The commodity was expected to adjust sideway after end of the short-term upside circle, testing the upper of trendline about 39 USD.
Correction was likely to continue at the moment.
Uptrend remained according to daily chart but signals of divergence in MACD appeared.
Trading suggestions:
Investors should trade within range of 41.95-39.10 USD.
Market Reviews of the Pervious Day:
During NY session on 12 April, the greenback tumbled versus the hedging currencies on Japan nuclear crisis and persisting low yield. Euro rose to the important psychological level of 1.45 USD which was the highest since Jan 2010. Characteristics of technical trends were distinct.
Gold extended losses on 12 Apr on pullback oil price and profit taking. Some analysts adjusted the U.S. economic growth expectation downward. The negative global market emotion hit major commodity futures, pressing down the trend of gold.
Key Economic Data and Events:
GMT+8 13:30 France Consumer Price Index (Mar)
GMT+8 15:15 Switzerland Producer & Import Price Index (Mar)
GMT+8 16:30 U.K. Unemployment Rate (Mar)
GMT+8 17:00 Euro Zone Industrial Production (Feb)
GMT+8 20:30 U.S. Retail Sales (Mar)
GMT+8 22:00 U.S. Business Inventory (Feb)
GMT+8 22:30 Canada Central Bank’s Monetary Policy Report
Gold:
Gold opened at 1463.01 USD on 12 Apr, with intra-day Low at 1446.49 USD and intra-day High at 1467.22 USD, eventually closing at 1453.05 USD. Intra-day range of 20.73 USD was seen.
Gold settled lower on Tuesday, closing with a long bearish candlestick. Price was tentatively supported by the previous neckline of head and shoulders bottom.
Oil plunged in the session as it was believed that high oil price had hindered the demand. While the pullback eased inflation woes, certain safe haven buying withdrew from gold.
Technically gold was predicted to have a correction for the upside market on 28 Mar. Price should move sideway within range 1464-1446 USD, which was between the connection of the highest of 9 Nov and 7 Dec last year and the recent head and shoulders bottom.
There was apparent upside trend according to daily chart but oscillation should occur in short run. Potential divergence of MACD was distinct.
Trading suggestions:
Range trade strategy is suggested within 1464-1446 USD. As short-term uptrend ended correction is expected to remain.
Silver: moving downward to test lower support
Silver opened at 40.25 USD on 12 Apr, with intra-day Low at 39.77 USD and intra-
day High at 40.86 USD, eventually closing at 40. 09 USD. Intra-day range
of 1.08 USD was seen.
Silver continue to fall on Tuesday but range narrowed. The commodity was expected to adjust sideway after end of the short-term upside circle, testing the upper of trendline about 39 USD.
Correction was likely to continue at the moment.
Uptrend remained according to daily chart but signals of divergence in MACD appeared.
Trading suggestions:
Investors should trade within range of 41.95-39.10 USD.
HXPM Gold market reviews on Apr. 12th, 2011: Structural adjustments
Daily Gold Review: http://www.hx9999.com/en/trend_675.html
Market Reviews of the Pervious Day:
During NY session on 11 April, the greenback rebounded as the U.S. government reached an agreement towards the financial budget. Yet the gains in dollar should be limit due to the U.S. debt limit concerns. Meanwhile the risky currencies were also under pressure.
Gold fe11 sharply on 11 Apr on stronger dollar and profit taking. The commodity had risen 3.2% last week with the support of factors such as inflation expectation, Middle East unrest, European debt woes, etc.. Investors tended to take profit folloing the records, restricting the room to advance further.
Key Economic Data and Events:
GMT+8 14:00 Germany Consumer Price Index (Mar)
GMT+8 16:30 U.K. Consumer Price Index (Mar)
GMT+8 16:30 U.K. Balance of Payments (Feb)
GMT+8 17:00 Germany ZEW Economic Climate Indicator (Apr)
GMT+8 20:30 Canada Balance of Payments (Feb)
GMT+8 20:30 U.S. Balance of Payments (Feb)
GMT+8 21:00 Canada Decision on Central Bank's Rate
Gold:
Gold opened at 1475.50 USD on 11 Apr, with intra-day Low at 1459.72 USD and intra-day High at 1476.40 USD, eventually closing at 1462.96 USD. Intra-day range of 16.68 USD was seen.
Gold retreated sharply on Monday, closing with a long bearish candlestick with accumulated downside pressure.
Profit taking occured mainly due to stronger greenback and slipping oil price. Moreover, the financial budget reached to an agreement in the mid-night of 8 Apr, preventing shut down of the U.S. government at 1 hour before the deadline. Certain safe haven buying withdrew as a result and ceiling selling took place instead.
Trading suggestions:
Moderate long positions is suggested at the lower of the range of 1475-1450 USD with sideway trading strategy. The upward trend should have ended in short run.
Market Reviews of the Pervious Day:
During NY session on 11 April, the greenback rebounded as the U.S. government reached an agreement towards the financial budget. Yet the gains in dollar should be limit due to the U.S. debt limit concerns. Meanwhile the risky currencies were also under pressure.
Gold fe11 sharply on 11 Apr on stronger dollar and profit taking. The commodity had risen 3.2% last week with the support of factors such as inflation expectation, Middle East unrest, European debt woes, etc.. Investors tended to take profit folloing the records, restricting the room to advance further.
Key Economic Data and Events:
GMT+8 14:00 Germany Consumer Price Index (Mar)
GMT+8 16:30 U.K. Consumer Price Index (Mar)
GMT+8 16:30 U.K. Balance of Payments (Feb)
GMT+8 17:00 Germany ZEW Economic Climate Indicator (Apr)
GMT+8 20:30 Canada Balance of Payments (Feb)
GMT+8 20:30 U.S. Balance of Payments (Feb)
GMT+8 21:00 Canada Decision on Central Bank's Rate
Gold:
Gold opened at 1475.50 USD on 11 Apr, with intra-day Low at 1459.72 USD and intra-day High at 1476.40 USD, eventually closing at 1462.96 USD. Intra-day range of 16.68 USD was seen.
Gold retreated sharply on Monday, closing with a long bearish candlestick with accumulated downside pressure.
Profit taking occured mainly due to stronger greenback and slipping oil price. Moreover, the financial budget reached to an agreement in the mid-night of 8 Apr, preventing shut down of the U.S. government at 1 hour before the deadline. Certain safe haven buying withdrew as a result and ceiling selling took place instead.
Technically the uptrend since 1 Apr could be devided into 5 parts. It's normal oversold condition would bring rebound later. The moving range shifted to 1475-1450 USD currently.
There was apparent upside trend according to daily chart while technical indicators had been recovering. Yet upside momemtums reduced.Trading suggestions:
Moderate long positions is suggested at the lower of the range of 1475-1450 USD with sideway trading strategy. The upward trend should have ended in short run.
Monday, April 11, 2011
HXPM Gold market reviews on Apr. 11th, 2011: Correction believed to be ended as key resistance breached
Daily Gold Review: http://www.hx9999.com/en/trend_672.html
Market Reviews of the Pervious Day:
During NY session on 8 April, the greenback extended loss on continued zero interest policy as well as risk of government’s failure in reaching agreement of financial budget. The dollar index fell below 75, hiting the lowest since Dec 2009.
Gold jumped on 8 Apr and hit record on the support of the stronger euro. According to Commerzbank AG, prices of precious metals were being pushed upwards by the weakening greenback and inflation risk partly induced by high oil price, and also the massive investment demand. Say the holding of SPDR Gold ETF had increased to about 12 tons, the highest since Jan, within a single day on 7 Apr.
Key Economic Data and Events:
GMT+8 07:50 Japan Core Machinery Order (Feb)
GMT+8 14:45 France Industrial Production (Feb)
GMT+8 24:00 U.S. Speech of Janet L. Yellen from Federal Reserve
Gold:
Gold opened at 1458.61 USD on 8 Apr, with intra-day Low at 1456.70 USD and intra-day High at 1475.20 USD, eventually closing at 1474.78 USD. Intra-day range of 19.50 USD was seen.
Gold jumped and hit record again on Friday. As the connection of the highest of 9 Nov and 7 Dec last year was broken, the structural correction should have ended.
The upside trend since 1 Apr could be devided into 5 parts that gold might experience some adjustments at high level. The moving range should locate at 1475-1450 USD recentl.
There was apparent upside trend according to daily chart while technical indicators had been recovering.
Trading suggestions:
Recommend partial close for Long Position due to some correction may be occurred and buy on dip then.
Silver: upward breakout to approach upper target.
Silver opened at 39.67 USD on 8 Apr, with intra-day Low at 39.51 USD and intra-
day High at 40.95 USD, eventually closing at 40.93 USD. Intra-day range of 1.44 USD was seen.
Silver broke through upward on Friday, closing with a long bullish candlestick. Price was approaching the target of part of the circle.
Upside trend continued according to daily chart while technical indicators further improved. Target of part of the circle should be distributed at about 41.50 USD.
Trading suggestions:
Long position is suggested to hold. Investors should continue long-term strategy and look for buying opportunities. The upper target should be at 41.50 USD.
Market Reviews of the Pervious Day:
During NY session on 8 April, the greenback extended loss on continued zero interest policy as well as risk of government’s failure in reaching agreement of financial budget. The dollar index fell below 75, hiting the lowest since Dec 2009.
Gold jumped on 8 Apr and hit record on the support of the stronger euro. According to Commerzbank AG, prices of precious metals were being pushed upwards by the weakening greenback and inflation risk partly induced by high oil price, and also the massive investment demand. Say the holding of SPDR Gold ETF had increased to about 12 tons, the highest since Jan, within a single day on 7 Apr.
Key Economic Data and Events:
GMT+8 07:50 Japan Core Machinery Order (Feb)
GMT+8 14:45 France Industrial Production (Feb)
GMT+8 24:00 U.S. Speech of Janet L. Yellen from Federal Reserve
Gold:
Gold opened at 1458.61 USD on 8 Apr, with intra-day Low at 1456.70 USD and intra-day High at 1475.20 USD, eventually closing at 1474.78 USD. Intra-day range of 19.50 USD was seen.
Gold jumped and hit record again on Friday. As the connection of the highest of 9 Nov and 7 Dec last year was broken, the structural correction should have ended.
The upside trend since 1 Apr could be devided into 5 parts that gold might experience some adjustments at high level. The moving range should locate at 1475-1450 USD recentl.
There was apparent upside trend according to daily chart while technical indicators had been recovering.
Trading suggestions:
Recommend partial close for Long Position due to some correction may be occurred and buy on dip then.
Silver: upward breakout to approach upper target.
Silver opened at 39.67 USD on 8 Apr, with intra-day Low at 39.51 USD and intra-
day High at 40.95 USD, eventually closing at 40.93 USD. Intra-day range of 1.44 USD was seen.
Silver broke through upward on Friday, closing with a long bullish candlestick. Price was approaching the target of part of the circle.
Upside trend continued according to daily chart while technical indicators further improved. Target of part of the circle should be distributed at about 41.50 USD.
Trading suggestions:
Long position is suggested to hold. Investors should continue long-term strategy and look for buying opportunities. The upper target should be at 41.50 USD.
HXPM Gold Weekly Gold Review 110411: Upside breakouts in both gold and silver
Weekly Gold Review: http://www.hx9999.com/en/comment_week_674.html
Both gold and silver broke through upward last week. Gold made the history of 1,475 USD, while silver also reached 40.95 USD, which was the highest over these 30 years.
Gold was under a significant resistance of 1,450 USD in both psychological and technical terms during the later of the previous 2 week. Last Tuesday gold breached the level and reached the day high of 1,457 USD. Once resistance broken gold had repeatly hit records. That the highest on Wednesday was 1,462.40 USD, which climbed upper to 1,465.20 and 1,475 USD in the next 2 sessions respectively.
During the week most market news are positive to the commodity: oil continued to rise that the U.S. futures advanced to 113 USD; Portugal asked for bailout arousing European debt woes again; Lybia's uprising deteriorated; although Yen retreated the dollar index continued to fall to 75.50; etc. Safe haven buying flowed in to support gold to break through the resistance to new records.
Silver moved similar to gold. Last week once the 38 USD level broken silver had soared by 7.8% to 40.95 USD. And price ratio of gold and silver reduced further to 36 times.
Technically and psychologically, no essential resistance was seen in the 2 metals at the moment. With the support of favourable market conditions, the intension of profit taking was not significant. It was difficult to define the next upper target by technical analysis. While under market expectation the expected target should be 1,500 USD of gold and 43-45 USD of silver. Gold was expected to correct slightly and move within the range of 1,450-1,490 USD. And the range of silver should be within 39-32 USD.
Both gold and silver broke through upward last week. Gold made the history of 1,475 USD, while silver also reached 40.95 USD, which was the highest over these 30 years.
Gold was under a significant resistance of 1,450 USD in both psychological and technical terms during the later of the previous 2 week. Last Tuesday gold breached the level and reached the day high of 1,457 USD. Once resistance broken gold had repeatly hit records. That the highest on Wednesday was 1,462.40 USD, which climbed upper to 1,465.20 and 1,475 USD in the next 2 sessions respectively.
During the week most market news are positive to the commodity: oil continued to rise that the U.S. futures advanced to 113 USD; Portugal asked for bailout arousing European debt woes again; Lybia's uprising deteriorated; although Yen retreated the dollar index continued to fall to 75.50; etc. Safe haven buying flowed in to support gold to break through the resistance to new records.
Silver moved similar to gold. Last week once the 38 USD level broken silver had soared by 7.8% to 40.95 USD. And price ratio of gold and silver reduced further to 36 times.
Technically and psychologically, no essential resistance was seen in the 2 metals at the moment. With the support of favourable market conditions, the intension of profit taking was not significant. It was difficult to define the next upper target by technical analysis. While under market expectation the expected target should be 1,500 USD of gold and 43-45 USD of silver. Gold was expected to correct slightly and move within the range of 1,450-1,490 USD. And the range of silver should be within 39-32 USD.
Thursday, April 07, 2011
HXPM Gold market reviews on Apr. 8th, 2011: Long-term strategy remained while gold wobbled before resistance
Daily Gold Review: http://www.hx9999.com/en/trend_670.html
Market Reviews of the Pervious Day:
During NY session on 7 April, the European Central Bank increased base rate by 25 bps as expected despite the deepened debt woes among Euro Zone. Euro pulled back from 1-year high. Yet the greenback slided against the major hedging currencies, especially Yen.
Gold closed about opening on 7 Apr. The commodity made the third consective history but retreated at closing. The recent runs of gold and silver should be the response to the growing inflation fears. The threaten of inflation was signified by the 25 bps interest hike of ECB announced in the early of the session.
Key Economic Data and Events:
GMT+8 16:30 U.K. Producer Price Index (Output) (Mar)
GMT+8 19:00 Canada Unemployment Rate (Mar)
GMT+8 20:15 Canada Housing Starts (Mar)
GMT+8 22:00 U.S. Wholesale Inventories (Feb)
Gold:
Gold opened at 1456.66 USD on 7 Apr, with intra-day Low at 1452.82 USD and intra-day High at 1464.60 USD, eventually closing at 1458.51 USD. Intra-day range of 10.68 USD was seen.
Gold crawled higher on Thursday and made intraday record again, but retreated at closing. It should be noticed that gold could not break through the connection between the high of 9 Nov and 7 Dec last year. Price was consolidating about the resistanat level currently.
Only the fact of upside breakthrough would confirm further upward range. Yet took a view of pattern, the gold would be very volatile after breakthrough
There was apparent upside trend according to daily chart while technical indicators were recovering.
Trading suggestions:
Moderate longing is suggested. Further upside potential would be developed if gold breaches the connection between the high of 9 Nov and 7 Dec last year. Investors should look for buying opportunity afterwards.
Silver: short-term correction thus long-term strategy should persist
Silver opened at 39.54 USD on 6 Apr, with intra-day Low at 39.23 USD and intra-
day High at 39.69 USD, eventually closing at 39.67 USD. Intra-day range of 0.46 USD was seen.
Silver continued to rally at high on Thursday. There were indications of further break through in short run.
Uptrend continued with further improved technical indicators. Target of part of pricing circle should be distributed around 41.50 USD.
Trading suggestions:
Long-term strategy is suggested. The upper target should be 41.50 USD.
Market Reviews of the Pervious Day:
During NY session on 7 April, the European Central Bank increased base rate by 25 bps as expected despite the deepened debt woes among Euro Zone. Euro pulled back from 1-year high. Yet the greenback slided against the major hedging currencies, especially Yen.
Gold closed about opening on 7 Apr. The commodity made the third consective history but retreated at closing. The recent runs of gold and silver should be the response to the growing inflation fears. The threaten of inflation was signified by the 25 bps interest hike of ECB announced in the early of the session.
Key Economic Data and Events:
GMT+8 16:30 U.K. Producer Price Index (Output) (Mar)
GMT+8 19:00 Canada Unemployment Rate (Mar)
GMT+8 20:15 Canada Housing Starts (Mar)
GMT+8 22:00 U.S. Wholesale Inventories (Feb)
Gold:
Gold opened at 1456.66 USD on 7 Apr, with intra-day Low at 1452.82 USD and intra-day High at 1464.60 USD, eventually closing at 1458.51 USD. Intra-day range of 10.68 USD was seen.
Gold crawled higher on Thursday and made intraday record again, but retreated at closing. It should be noticed that gold could not break through the connection between the high of 9 Nov and 7 Dec last year. Price was consolidating about the resistanat level currently.
Only the fact of upside breakthrough would confirm further upward range. Yet took a view of pattern, the gold would be very volatile after breakthrough
There was apparent upside trend according to daily chart while technical indicators were recovering.
Trading suggestions:
Moderate longing is suggested. Further upside potential would be developed if gold breaches the connection between the high of 9 Nov and 7 Dec last year. Investors should look for buying opportunity afterwards.
Silver: short-term correction thus long-term strategy should persist
Silver opened at 39.54 USD on 6 Apr, with intra-day Low at 39.23 USD and intra-
day High at 39.69 USD, eventually closing at 39.67 USD. Intra-day range of 0.46 USD was seen.
Silver continued to rally at high on Thursday. There were indications of further break through in short run.
Uptrend continued with further improved technical indicators. Target of part of pricing circle should be distributed around 41.50 USD.
Trading suggestions:
Long-term strategy is suggested. The upper target should be 41.50 USD.
HXPM Gold market reviews on Apr. 7th, 2011: Consolidate before important resistance
Daily Gold Review: http://www.hx9999.com/en/trend_668.html
Market Reviews of the Pervious Day:
During NY session on 6 April, euro rose beyond 1.43 USD to Jan 2010 high as the European Central Bank was believed to raise interest on the next day, which was the first interest hike in 3 years. Market had eyed on the interest decisions on 7 Apr of the 3 major central banks this week. While ECB was most likely to increase rate, euro headed upward and the greenback was under pressure.
Gold ended higher on 6 Apr.safe haven buying continued to flow in on inflation woes. That Gold futures were support to hit new record again during the NY session.
Key Economic Data and Events:
GMT+8 19:00 U.K. Decision on Central Bank’s Rate
GMT+8 19:45 Euro Zone Decision on ECB’s Rate
GMT+8 20:30 U.S. Initial Jobless Claims (1 Apr)
Gold:
Gold opened at 1456.51 USD on 6 Apr, with intra-day Low at 1451.55 USD and intra-day High at 1462.23 USD, eventually closing at 1459.43 USD. Intra-day range of 10.68 USD was seen.
Gold extended upward track on Wednesday to hit historical high again. Yet it should be noticed that gold could not break through the connection between the high of 9 Nov and 7 Dec last year. Price was consolidating about the resistanat level currently.
For tradingwise, only the fact of upside breakthrough would confirm further upward range.
There was apparent upside trend according to daily chart while technical indicators were recovering.
Trading suggestions:
Moderate longing is suggested. Further upside potential would be developed if gold breaches the connection between the high of 9 Nov and 7 Dec last year. Investors should look for buying opportunity afterwards.
Silver: record high triggered and further upside track constructed
Silver opened at 39.50 USD on 6 Apr, with intra-day Low at 39.12 USD and intra-
day High at 39.76 USD, eventually closing at 39.52 USD. Intra-day range of 0.64 USD was seen.
Silver continued to rise on Wednesday, repeatly made 31-year records in 3 consecutive sessions.
Uptrend continued with further improved technical indicators. Target of part of pricing circle should be distributed around 41.50 USD.
Trading suggestions:
Long-term strategy is suggested. The upper target should be 41.50 USD.
Tuesday, April 05, 2011
HXPM Gold market reviews on Apr. 6th, 2011: Broke out upward on safe haven buying
Daily Gold Review: http://www.hx9999.com/en/trend_666.html
Market Reviews of the Pervious Day:
During NY session on 5 April, the greenback moved sideway. Euro remained to consolidate at high level while the sterling rebounded sharply. The People’s Bank of China increased rate by 35 bps unexpectedly, further pressing down AUD.
Gold closed sharply higher on 5 Apr, breaking the historical highest. Interest hike in China brought tentative pressure. Yet European debt woes extended and situation in Lybia deteriorted. Gold soared to trigger pressure from trendline.
Key Economic Data and Events:
GMT+8 13:00 Japan Leading Indicators (Feb)
GMT+8 16:30 U.K. Industrial Production (Feb)
GMT+8 16:30 U.K. Manufacturing Production Index (Feb) Previous: 1.0%/month, 6.8%/year
GMT+8 17:00 Euro Zone GDP (4th Q)
GMT+8 Germany Manufacturing Orders (Feb)
GMT+8 Canada Ivey Purchasing Manager’s Index (Mar)
Gold:
Gold opened at 1434.05 USD on 5 Apr, with intra-day Low at 1430.13 USD and intra-day High at 1457.00 USD, eventually closing at 1456.38 USD. Intra-day range of 26.87 USD was seen.
Gold soared on Tuesday, breached the continuation of the previous historical high and the bottom of head and shoulder, closing wiht a long bullish candlestick. Yet it should be noticed that gold could not break though after triggering the connection between the highest on 9 Nov and 7 Dec last year. Further upside potential should not be developed until the commodity breached the level of 1458 USD.
There was apparent upside trend according to daily chart while technical indicators had been recovering.
Gold is still on the track of long term uptrend but technical divergences, especially in MACD, were obviously seen. With reference to large upside retractment of Gold on August 2009, investors should be alert.
Trading suggestions:
Moderate longing is suggested. Further upside potential would be developed if gold breaches the level of 1458 USD. Investors should look for buying opportunity afterwards.
Silver: record high triggered and further upside track constructed
Silver opened at 38.59 USD on 4 Apr, with intra-day Low at 38.09 USD and intra-
day High at 39.31 USD, eventually closing at 39.30 USD. Intra-day range of 1.22 USD was seen.
Silver boosted on Tuesday. The commodity rised vertically during part of the session and broke the historical high. Technical indical further improved. Upside trake moved forward as the commodity had breached the connection of the highest on 7 Mar and 24 Mar.
Trading suggestions
Investors should hold long orders in hand and look for buying oppotunities after price breaches the connection of the highest on 7 Mar and 24 Mar (expected to be 39 USD). The upper target should be 41 USD.
HXPM Gold market reviews on Apr. 5th, 2011: Technical adjustments continued as upside breakout failed
Daily Gold Review: http://www.hx9999.com/en/trend_664.html
Market Reviews of the Pervious Day:
During NY session on 4 April, euro retreated after triggering 5-month high as profit taking took place before the central bank meeting. Federal Reserve Bank of Atlanta President Dennis Lockhart said economic recovery facing headwinds, fading out previous hawkish comments from other officials. The speech of the Federal Reserve Chairman Bens S. Bernanke did not signify a contractionary tendency that interest hike was not likely to happen. The greenback was expected to remain feeble in the week.
Gold closed slightly higher on 4 Apr. Oil extended uprising streak, impliciting inflation expectation. In addition, political uprising deteriorated especially in Lybia. Gold headed upward to approach 1,440 USD on Monday, retreated on improved dallor index in the session and closed in green finally.
Key Economic Data and Events:
GMT+8 15:55 Germany Purchasing Manager’s Index Services (Mar)
GMT+8 16:00 Euro Zone Germany Purchasing Manager’s Index Services (Mar)
GMT+8 17:00 Euro Zone Retail Sales (Feb)
GMT+8 U.S. ISM Non-Manufacturing Index
Gold:
Gold opened at 1428.38 USD on 4 Apr, with intra-day Low at 1428.09 USD and intra-day High at 1438.73 USD, eventually closing at 1434.10 USD. Intra-day range of 10.64 USD was seen.
Gold closed slightly higher on Monday, retreated after testing the upper of the range. Sideway movement was seen in trading range.
Corrections reamained according to daily chart. Technical divergences would not alter until current pattern split to construct further upside track.
Gold is still on the track of long term uptrend but technical divergences, especially in MACD, were obviously seen. With reference to large upside retractment of Gold on August 2009, investors should be alert.
Trading suggestions:
Moderate longing is suggested. Slight upside potential would be developed if gold breaches the level of 1440 USD. While price may return to the upside trendline since 28 Jan of 1416 USD of further to the lower of the current range of 1410 USD. Trading sizes should be reduced with range trade strategy.
Silver: approaching pressure of trendline after breaking out
Silver opened at 37.83 USD on 4 Apr, with intra-day Low at 37.78 USD and intra-
day High at 38.60 USD, eventually closing at 38.60 USD. Intra-day range of 0.74 USD was seen.
Silver headed upward on Monday, closed with a bullish candlestick at the historical high. Uptrend remained in daily chart. Technical indicators improved but trend was approaching pressure from the connection of the highest on 7 Mar and 24 Mar.
Trading suggestions:
Investors should hold long orders in hand and search buying oppotunities after price breaches the connection of the highest on 7 Mar and 24 Mar. The upper target should be 41.50 USD.
Monday, April 04, 2011
HXPM Gold market reviews on Apr. 4th, 2011: Technical patterns of range movements extended
Daily Gold Review: http://www.hx9999.com/en/trend_661.html
Market Reviews of the Pervious Day:
During NY session on 1 April, performances of the major currencies diversed with mixing effects of impressive U.S. economic data and expected interest hikes in Euro Zone. The greenback was shocked by the comment of William C. Dudley, president of the Federal Reserve Bank of New York, that QE2 should continue though employment was improved.
Gold closed slightly lower on 1 Apr, pressed by impressive U.S. employment data, official comments of possibly interest hikes as well as strengthening greenback. Base rate adjusted upward implied higher investment cost hence suppressed demand for the commodity. The greenback recovered in the session also brought into downside pressure. Gold previously closing at the historical high induced certain profit-taking activities as well.
Key Economic Data and Events:
GMT+8 16:30 U.K. Construction Purchasing Manager’s Index (Mar)
GMT+8 17:00 Euro Zone Producer Price Index (Feb)
Gold:
Gold opened at 1428.66 USD on 1 Apr, with intra-day Low at 1414.41 USD and intra-day High at 1436.01 USD, eventually closing at 1431.59 USD. Intra-day range of 21.60 USD was seen.
Gold retreated from high on Friday, closing slightly lower as buying on dip existed at supporting level on the upside trendline since 28 Jan. Oscillation patterns were solid.
Holding of the New York SPDR Gold Trust, the largest gold ETF in the world, reduced in largest extent since established in first quarter of 2011. Selling-off was driven by interest hike expectation and rising prices of other major commodities.
Interest hikes were more likely among worldwide central banks. Implied increasing cost of holding gold depress demand in market. Several commitee members of the U.S. Federal Reserve had commented that further QE policy would not help economic recovery. And also President of the European Central Bank Jean-Claude Trichet memtioned inflation woes on soaring food and energy prices.
Gold is still on the track of long term uptrend but short term correction still remains according to the daily chart. Improvement in technical indicators was not significant and divergence of MACD extended, indicating correction should continue.
Trading suggestions:
Investors should keep to be alert in times of oscillation and continue range trade strategy. The daily range should be within 1440-1410 USD.
Silver: continued recent trend
Silver opened at 37.65 USD on 1 Apr, with intra-day Low at 37.11 USD and intra-
day High at 37.85 USD, eventually closing at 37.81 USD. Intra-day range of 0.74 USD was seen.
Silver continued correction pattern to head down then reverse, closing with a long lower shadow short bullish candlestick. No change in trend was seen during the session.
The moving average parallels the daily chart, yet technical indicators diversed with the upside trend. Divergence of MACD extended.
Correction was expected to continue. The current moving range should be within 36.40-38.14 USD.
Next support should be distributed at about the upside trendline of 36 USD since 28 Jan.
Trading suggestions:
Trading range remains to be within 36.40-38.14 USD. Investors should continued sideway trading strategy.
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