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Market Report: PMs consolidating further + MORE

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Gold and silver drifted lower this week, dollar prices falling approximately 2.5% and 1.5% respectively.
It is a continuation of the previous week’s trend, which saw larger falls. To date, from 1st January the dollar price of gold this morning in early European trade is up 15.14%, and silver 17.7%…

Continue Reading On .goldmoney.com »

No change in Natural gas’s outlook. It continued to struggle to stay above 61.8% retracement of 2.495 to 1.611 at 2.157. As the choppy rebound from 1.611 is seen as a correction, we’ll stay cautious on topping and reversal around 2.157. Break of 1.8872 support will now indicate near term reversal and turn outlook bearish for retest on 1…

Continue Reading On oilngold.com »

Gold’s sharp fall from 1306.6 suggests that rebound from 1045.4 is completed and could have set the medium term range between 1045.4/1306. Firm break of 38.2% retracement of 1045.4 to 1306.0 at 1206.5 will confirm this case and would bring deeper fall through 61.8% retracement at 1144.9 before a sustainable rebound…

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Crude oil’s rally continued last week and 61.8% retracement of 62.58 to 26.05 at 48.63 is taken out. There is no sign of topping despite lost of upside momentum. Current rise would now target 100% projection of 26.05 to 41.90 from 35.24 at 51.09. Though, considering bearish divergence conditio in 4 hours MACD, break of 46…

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Hawkish comments by Fed Chair Janet Yellen last Friday intensified speculations of a rate hike in summer. Speaking in Harvard University, Yellen suggested that “it’s appropriate, and I’ve said this in the past, for the Fed to gradually and cautiously increase our overnight interest rate over time… Probably in the coming months such a move would be appropriate”…

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Silver’s pull back from 18.08 extended lower last week but it started to lose momentum after hitting 55 days EMA, 38.2% retracement of 13.62 to 18.06 and 16.17 resistance turned support. A rebound is likely due and break of 16.58 resistance will turn focus back to 18.08 high. However, downside acceleration form the current point will carry larger bearish implication and target 61…

Continue Reading On oilngold.com »

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