Spot Gold: Sasaran seterusnya ialah psycho level $1200

Salam Traders! Harga emas yang meningkat sedikit ke paras $1234 sebelum di tutup pada $1223 pada hari Selasa lepas adalah kesan dari serangan yang di buat oleh US ke atas ISIS. Secara teknikalnya, saya melihat ia membentuk satu morning doji star pattern. Masalah dengan pattern tersebut ialah terdapat nya long upper shadow di candle hari…

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Spot Gold: Can inflation moves the yellow metal?

Good day traders! Technically, its back into the triangle. A break to the upside would open up more moves towards 1330 and 1344 resistance leves. On the other hand, a break to the downside would expose gold to further decline towards 1276 and 1240 support levels. Either breaks if coupled with high volume its worth…

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Spot Gold: High wave candles at the top

Good day traders! Looking at the above chart, technically it seems that the bulls run have running out of steam. Dojis in the form of high wave candles (rickshawman, hanging mans, spinning top) provided some clue that the gold market may have reached the top. First resistance can be found at 1330, which is the…

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Spot Silver: Can silver drop any further?

Good day traders! Technically, we are seeing two descending triangle pattern on the weekly chart; adding to more risk and bias view to the downside. Strong support seen at 18.65. Breaking this level would open more move towards 16.35. A drop towards 15.00 is too ambitious but technically I can’t rule that out. Else, silver…

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Spot Gold: Double bottom at weekly chart; can it add another bottom?

Good day traders! As a trader, I’m open to any possibilities. Including what you see in the above chart. Its the weekly gold chart and from what I see, it ain’t good. Price have a really hard time to break the 23.6% fibonacci level; showed by the consolidation candles below the fibo level. Failure to…

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Spot Gold: Buying dips

Good day traders! Technically we are seeing buyer are buying at the dips – seen above at the rising blue trend line – in the region of 1268 – 1277. Long lower shadow signals buying pressure exists. As long as they defended this area, there’s a possible chance we would see more bulls are coming…

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Gold Intraday Setups 29 October 2013

Good day traders! Intraday, gold is being pressured to the downside. No high impact news on gold today as the US Core Retail Sale failed to make a significant impact. I’m looking forward for a retracement towards 1330 and possible buying at the dip. Happy pipping! Shufaad

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