Gold (XAU/USD) Wedge Breakout: After breaking above a falling wedge pattern seen in the 4H chart, gold (XAU/USD) stalled at 1323, and has been trading in a triangle consolidation. The wedge breakout was a bullish signal. The rally pushed gold (XAU/USD) above the cluster of 200-, 100-, and 50-period Simple Moving Averages (SMAs). The 4H RSI was pushed up above 70. Now if price can hold above the SMAs, the wedge*breakout is still valid, and if the 4H RSI holds above 40, there is maintenance ...
Gold Trades Below 2-Month High as Investors Weigh U.S. Recovery Gold traded below a two-month high as investors assessed the U.S. economic recovery and the impact on borrowing costs amid signs of slowing physical demand. Bullion for immediate delivery lost as much as 0.3 percent to $1,313.98 an ounce, and traded at $1,314.94 at 2:01 p.m. in Singapore, according to Bloomberg generic pricing. Gold rose to $1,322.12 on June 20, the ...
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Article summary: Widening divergences in interest rate forecasts and the reality that volatility cannot continue to tread levels this low for much longer has traders on edge and looking for opportunity. US Dollar Will Settle for Euro As Recovery Driver in Absence of Volatility The most effective means for leveraging a significant rally from the US Dollar is for a shock to resonate through the global financial system. Yet, hoping for volatility is just that – hope. ...
Palladium Powers To Multi-Year Highs, Gold To Recover On USD Weakness Palladium outperforms precious metals on production concerns US Retail Sales may fail to stir the USD, leaving gold to recover Crude oil bulls hesitate near critical resistance at $105.00 Palladium prices have pushed to multi-year highs as the ongoing South African mining worker’s strike fuels further production concerns. Meanwhile, gold and silver may be afforded a continued recovery if the ...
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