After a significant momentum in Silver 11.77 to 29.85 silver started correcting in the month of Sep 2020 towards 21.66. Last week silver plunged 14.5% which offers a potential momentum pullback tradesetup towards the continuation of the previous uptrend.
I woke up in the morning just to see the headlines “Oil Drops to 21-Year Low With Storage Filling as Demand Shrivels”. Ever-since OPEC and its allies agreeing to cut production by 9.7 million barrels per day, Crude oil continuing its downward journey.
Now with One ounce of Gold one can buy 83 barrels of Crude Oil. Gold-Oil Ratio is at the historical peak as the FED keep their money printing to stimulate the economy.
Its been a very long time that we looking into the short term view of gold. In the last couple of months(Feb & Mar 2020), Gold is showing elevated volatility compared to the last 6 years of dull & boring price action. Short Term trend is holding up positive for the last 3-4 trading sessions. […]
Gold has been trading in a sideways mode since Aug 2019 and it been 4 months of sideways price action. However, Friday rally in Gold brings a potential trend reversal with short term trend & Trading sentiment turning positive.
Geopolitical tensions escalated following the drone attack on two Saudi Aramco installations Abqaiq and Khurais. Yemen’s Iran-allied Houthi rebels have claimed responsibility warning Saudi Arabia that their targets “will keep expanding”.
In the midst of ongoing trade war tensions gold, this week had captured the psychological mark 1500 USD and trading around the overhead resistance zone 1520-1525 levels. Gold rallied and broken the 2014 year high from bottoming at $1,045 in December of 2015
In May, the National Oceanic and Atmospheric Administration predicted a near-normal 2019 hurricane season, which runs from June 1 to November 30. But, the season got off to an early start with the short-lived sub-tropical storm Andrea on May 20.
1050-1350 for the last 5 years and currently trading very close to the upper band. Monthly ADX is maintaining below 20 since the year 2017 that shows the dullness in the trend at the broader level.
Thats Gold monthly timeframe showing consolidation in the band of 1050-1350 for the last 5 years. Monthly ADX is maintaining below 20 since the year 2017 that shows the dullness in the trend at the broader level.
If financial markets were styles of music, equities, especially the most stable Big Board stocks, are like great classical compositions: They’re made up of consistent, steady tempos you could listen to all day with the occasional booming or crashing note.
WTIC Crude is showing signs of strong momentum on Friday it is up by 4% during the U.S session. Since 22nd Nov 2018 crude is trading in a consolidation band of 50-54 range with couple of times testing the psychological reference zone 50 levels. And now price is trading in the upper end of the consolidation with stronger momentum which indicates potential higher prices in the shorter term.