Published on Thu, 18/03/10 |
Spot Gold Price - Daily News
Spot gold prices continued to trade in a narrow range once again yesterday ending the gold trading session marginally lower and with some support coming from the shorter term moving averages. As outlined in several previous gold market commentaries there are few conclusions that can be drawn from the current price action other than to wait for this period of sideways consolidation to end. The signal for this will either be a breakout to the upside, above the $1150 per ounce price region or alternatively a breach of the downside support currently in the $1075 region and below. Any move to the downside may find support from the 200 day moving average whilst a break to the upside will open the way for an attack on the previous high of $1220 per ounce of late December.
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Published on Mon, 15/03/10 |
Gold Trading News
The daily gold chart continues to remain mildly bearish as the current short term price action remains biased to the downside. Friday’s narrow spread down candle added to this short term bearish view with the high of the day running into resistance from the 9 and 14 day moving averages now immediately above. Longer term [...]
Published on Thu, 11/03/10 |
Gold Trading News
The spot gold price continues to remain mildly bearish with yesterday’s relatively wide spread candle breaking below the 9 and 14 day moving averages above but finding support from the 40 day moving average below. However, as outlined in previous gold market commentaries owing to the tight bunching of the shorter term moving averages their [...]
Published on Tue, 9/03/10 |
Gold Trading News
Spot gold prices once again continued to struggle to break above the 50 per ounce price handle which seems to be proving a difficult technical area on the daily gold chart. However, yesterday’s down candle did find some support from the 9 and 14 day moving averages which suggests a degree of bullish sentiment still remains in [...]
Published on Thu, 4/03/10 |
Gold Trading News
Tuesday’s relatively wide spread up candle on the daily gold chart added a further bullish layer to spot gold prices which are now holding well above all of our four moving averages as we begin to approach the key resistance area at $1150 once again. Yesterday’s narrow spread up bar failed to follow through from [...]
Published on Mon, 1/03/10 |
Gold Trading News
There was little action on the weekly spot gold chart last week with Friday bringing February to a close with a narrow spread down candle but with a deep shadow to the lower body. Whilst the price action remained range bound during the week Friday’s close managed to hold above all of our four moving [...]