Gold has resumed it’s sideways trading (short term) within the downtrend channel (highlighted in blue) (medium term) from what was an anticipated formation of the right should of an inverted H&S pattern. Recovery for the precious metal is still undecided as the markets consolidate in reaction to the US and Europe recovery. My personal view … Continue reading
Gold has rebounded against a minor support at 1275 – 1277. The chart pattern depicts a possible inverted head and shoulders ready to test the 1395 – 1400 trendline (range) with the right shoulder forming. Upon high volume breakout of the neckline, it’ll confirm a mid-term uptrend and recovery of the commodity, subject to the … Continue reading
Gold has entered the range of 1,179.02 – 1,386.52. Looks like the commodity is consolidating in this range. This price level was last seen in 2010 and recently in 2013.
Quick update for the Monday morning 1) After DJI shed some -300+ points on Friday night last week, expected a gap down in the STI. This turned out to be true. The correction I have been anticipating is finally here. Global markets gapped down as well 2) Selling to continue as more traders will bite … Continue reading