Introduction Gold futures are pulling back after a strong rally stalled at the 61.8% Fibonacci retracement (4,683) and the 200-day moving average (4,638). Those two levels were close together, and that’s where the resistance came in. On the 2 September session price is 4,356. The 78% Fib near 4,400 has given way, and the 50-day Read More…
Gold prices collapsed on Tuesday as rising tensions in the Middle East ignited inflation worries, sending Treasury yields higher. At the same time, Fed rate hike expectations continued rising after Warsh’s hawkish comments on Friday.
Introduction This is a follow-up to the 15 July analysis, where price was sitting around 52,901 with room to run toward 53,500–54,000 before hitting real resistance. The price has not changed much since then but did get a small bounce off the 78% Fib level and now bulls look to be finding their footing before Read More…
Equities fell on Monday as oil prices rose after the US attacked an Iranian island in the Strait of Hormuz. Iran retaliated by targeting US bases in Jordan, causing worries about an escalation.
Currency futures were subdued on Monday as the dollar remained elevated after Friday’s rally. The greenback soared after the Fed Chair’s comments increased rate hike expectations.
Introduction Gold has pulled back from a recent high near 4,650 after testing and breaking above the 200 day MA. What we are watching for now is whether this is just a pullback in a longer-term uptrend or if we move down to the 50-day MA and possibly even below $4,200. Gold Futures Trend Analysis Read More…
