Tuesday, December 1, 2015

Gold Humble

There has been a lot of controversy whether Gold is going to rise or fall. One thing is for sure, though, it is exceedingly underpriced. And so far it does not look like it has bottomed yet. This month will be crucial for the markets as we expect the FED to raise rates and change the game as we know it.

It would be best to restrain from heavy positions in Gold and Dollar-related instruments until noise passes and silence takes its place.

Back to Gold. It has found resistance on the upper trend line on H1 and is currently trading below it at $1,065. Bearish sentiment remains the leading reason for the price to continue losing ground as we see traders and investors head to Dollar. Next stop to the downside would be slightly below $1,050 and first stop to the upside would be $1,075 if resistance level is broken.

Chart: XAUUSD H1


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8 comments:

  1. UnknownDecember 2, 2015 at 11:13 AM

    Thanks for the analsyis, will watch those levels.

    ReplyDelete
  2. UnknownDecember 2, 2015 at 12:50 PM

    It is losing appeal as a safe haven asset.

    ReplyDelete
  3. UnknownDecember 2, 2015 at 6:20 PM

    Thank you for the analysis i'll keep an eye.

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  4. UnknownDecember 2, 2015 at 7:15 PM

    It's currently testing the resistance at 1,050 and if it breaks below that level the move the downside will continue.

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  5. UnknownDecember 2, 2015 at 8:48 PM

    I agree wit your interesting analysis, thank you.

    ReplyDelete
  6. UnknownDecember 4, 2015 at 3:06 AM

    Thanks for the tips.

    ReplyDelete
  7. UnknownDecember 6, 2015 at 6:17 PM

    Great post.

    ReplyDelete
  8. UnknownDecember 7, 2015 at 6:23 AM

    The trend is still bearish.

    ReplyDelete

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