Positive data against the suppressed gold price

The gold price daily trend maintained in choppy at 1207 along, the weekly price may close in choppy after slightly upward,  so today is majorly for longs, at night mainly follow the bulls.

In the fundamentals, the Europen Central Bank remain the interest rate unchanges, so their decision and speech did’t fluctuate the market strongly, so it is with the US firstly application of unempolyment compensation in that week.

The stronger empolyment rate and real estate market showed the US economy solid enough and enhanced to increase the interest rate, so the dollar got boosted a little this week but without continuity due to the very risky event of Trump’s specific economy policies.

So the investors are very interested in Trump’s inauguration speech about his prior promised policies of tax cuts, protectionism, and Yellen’s speech about the economy prospect and monetary policies, so the gold are in demand to hedge the risks.

The gold price once upwarded close at 1206.59 but then dropped around 1204.73, which was above the daily averages to indicating the section guided temperarily. As to the recent highs and lows, the trend will continue if break through here. In short-term the support position is around 1.46.40 and the resistance position around 1250.

Combined with the skills trend, 4-hour chart surged up to test pressure, daily chart turned negative in highs, weekly chart accumulated bulls, so to buy longs in short-term, median-term to sell shorts, long-term in lows to buy longs. Last night around 2300 hours the trend downwarded to test the second support at 1195, so there are not further positions to target profit, also no oppotunities to enter at 1200 after the slight pull-up in the morning. Then better buy longs in short-term in 1205-1203. The daily chart open for shorts, so today better note the rebound correction’s strength and continuity, for next week’s consideration.

Today the gold price to buy longs at lows in short-term and long-term, sell shorts at highs in median-term. In 1203-1205 for longs, stop loss at 1200, target in 1200-1212.

Taking advantage of bullish gold to hold longs today

Gold day for the daily averages continued to rally in choppy at 1207, just hold longs today for a bullish market.

Yestday morning the Fed chairman revealed to stimulate the gold price return downwarding shortly without continuity, and yesterday the morning markets in Europe and America fluctuate sharply without driving trength, needless to say Trump will take office tonight as the cordial injecting to pull up the market sentiment.

The gold price yesterday closed above around the highs of America market, then the resistance will be weak, so in this morning the hour-line upward after slight retracment, plus the daily averages yesterday stablized to close in K-cross after a wave of pull-up, so from the closing market yesterday and the weak strength after the sharp fluctuation, today the gold price may return to rise higher further.

Overnight after the sharp decline of the Asian market in the morning, its weak continuity led to the Europe market rebounded twice to test the highs at 1204/05 all along in choppy to close on Thursday also with the America market closing.

Gold price if in morning return at 1204/05 for longs, stop loss at 1199, target in 1210-1212, if firstly in 1214/1215 for shorts, stop 1219, target 1206-04.

Bullish gold price in cyclic upwarding for direct longs

This week, the gold price will rise in rough, such as rising from 1188 to 1218 with the periodic growth rate $30, then downwarding from 1218 to fulfill the curse of 20 dollars.

MKS analysts said the gold price above the 1200 and the demand from Asian investors are weakening, so the gold price may downward to test the supports of 1190 and 1180.

A research institution released the report that the gold price will return to the lows since 2015 because the recent callback on Tuesday (January 17) the gold price declined from the 2-month high 1218.90, even the gold price may upward because of the uncertainty will continue in short-term resulted from British exit from Europe and Trump’s deficit policies, but in the future it is very possible to recline to 1050 at the end of 2017.

When the Asian market closed on last Thursday (January 19), the gold price trading around 1201, earlier it hit at the daily low at 1197.69 due to the dollar going strong. Overnight it fell sharply beyond the normal morning situation, but the European market rebounded to test in choppy at the high of 1204/05 instead of weakening till closing the Thursday and with the America market closing.

The gold trading daily averages closed a K-cross, which followed a big shade, so it won’t continue. If it goes strong to record highs, then the profit will be about 20 dollars.

This morning, the gold price rebounded above the high position of the wee hours to the suppressed position 1204 in session, continuous rebound will test the stressed position of 1209/10, so today better to stop loss at 1295/96 to see if the upwarding break through to end.

Callback at 1204/05 for longs, stop loss at 1199, target profit in 1210-1212. First hit at 1214/1215 for shorts, stop loss at 1219, target profit in 1206-04.

Yellen’s speech suppressed the spot gold price to trunaround

Today the spot gold downwarded below 1200 in the morning market to the daily low at 1197.69, due to Yellen revealed to raise the interest rate earlier than the expectations.

According to a government report released on Wednesday saying that the US CPI in December after adjusted reached the maximum growth than prior value since June 2014, this showed that the inflation pressure still did not reach the bottom out, so Fed will speed up to raise the interest rate.

The Fed on Wednesday released the data showing that US industrial output was better than forecast, the capacity utilization record the maximum growth rate since 1989.

The detailed data showed US industrial output in December increased by 0.8% than prior value, and the forecasted value 0.6% and prior value -0.7%.

The Fed on Tuesday (January 17) revealed that if Trump’s deficit policies can rapidly boost the economy, then Fed will raise the interest rate sooner.

From last midnight to this morning the gold trend continued to fall directly after the opening correction, so this is strong for a short-term long.

However, on the technical side, the gold price fell below 1200 which is the lower trail support position of the upwarding channel of hour line, this also indicates the gold price will weaken further.

So the gold trading need to resell the shorts on rebounds today. Now the upper pressure is at 1205-06 which is the anti-suppressing position of the hourly upwarding line, today if the gold price reverses at this area then better start layout the shorts, and the further pressure need focused on the low position at 1210 in European market yesterday. Better sell the shorts on rebounds below this position, which suppresses the returning up by 0.382 of 1375-1122, and note the lower support of the morning low at 1197 and the strong support at 1187.

Today the gold price increase the longs in batches in 1200-1198, stop loss at 1195, target at 1205-1210, and sell the shorts at 1210, stop loss at 1215, target in 1205-1202.

The international gold breaks the longs trend

Yesterday the international gold stopped highly at $1218.5/oz, once again prepare to turn back from top, due to the Fed raising interest rate.

A government report on Wednesday (January 18) revealed that the CPI increased at the maximum after quarterly adjustment than prior value since June 2014, showing the inflation pressure is still strong, so Fed may increase the interest rate earlier than forecast. In December, the DOL data showed that the core CPI monthly rate rate rose by 0.2% same as the forecast, which uninclued the fluctuating food and fuel materials, of which general monthly rate rose by 0.3% as forecasted and the yearly rate rose by 2.1% as the maximum since June 2014.

Gold trading yesterday closed a 7th positive and a slight negative downlead, the gold price currently pressed at 1205 under the pressure of 5-day averages with the EMA longs form unchanged, the Sto dead cross downwarded.

Gold 4-hour trend showed the shorts were severe, EMA MA5 downward through MA10 to form the worst cross drop, the gold price is pressed by the Brin median trail and 30-day averages, the MACD indicator formed the dead cross to downward, Sto formed a dead cross in super buy zone and downwared beyond the oversold zone.

Hence, the gold market won’t hold at 1200, but rest assured that the bottom has stong supports for the heightened risk aversion and the increased physical demands from Asia market, so the gold prices may also have the opportunity to impact test around 1250.

Today gold price in the morning at 1201/02 for longs, stop loss at 1196, target in 1209/1210, firstly above at 1210 for shorts, stop loss at 1216, target in 1200/1198.