Friday, December 18, 2015

Gold Posts New Losses

Gold has been having a bad time ever since the FED rate hike took place. The moment the decision was announced Gold made a $15 spike only to recover seconds later. The after effect, however, turned out to be strongly bearish for the precious metal.

Gold went from $1,079 to $1,047 in less than two days posting the quickest loss since November 16. Currently, Gold has recovered slightly and is trading at $1,055. Its future is yet to be decided, but with a strong bearish market sentiment and the strong US Dollar, we might witness an attempt to reach the zone aroung the $1,020 mark.

Chart: XAU/USD H4




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6 comments:

  1. UnknownDecember 18, 2015 at 5:56 PM

    It bounced off the support at 1,045, this could be a double bottom formation.

    ReplyDelete
  2. UnknownDecember 18, 2015 at 6:12 PM

    In a day of increased volatility Gold played its role as a safe heaven asset.

    ReplyDelete
  3. UnknownDecember 18, 2015 at 7:57 PM

    Great analysis, thank you .

    ReplyDelete
  4. UnknownDecember 18, 2015 at 9:55 PM

    Useful information, thanks!

    ReplyDelete
  5. UnknownDecember 20, 2015 at 10:45 PM

    Good analysis.

    ReplyDelete
  6. UnknownDecember 22, 2015 at 6:41 AM

    Let’s see how it keeps going.

    ReplyDelete

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