GOLD | Update | 30.03.12

Gold price broke yesterday High around 1664 and has been trying to breach 1669, but it seems like it is a strong Resistant (see red thick line on time frame 4H on the left) as it was last week High. If the price breaks that Resistant then the next target would be around 1676 - 1680 - 1694. Otherwise more consolidation would be seen or the price goes back to around 1654 and potentially forming the Inverted Head and Shoulder pattern.

GOLD | Daily Range | 30.03.12

Gold broke the area 1648 (50% Fibonacci - weekly range, on the left) which could've brought the price back  to the downside for the rest of the week, but it couldn't stable below that level and rebound to the upside instead today. The MACD has already broke the zero line on time frame 1H while it is about to cross on time frame 4H.

If the price breaks 100% Fibonacci on 1H (1664), and MACD on 4H also crosses up, then the next target would be around 1669 - 1676. Otherwise, more consolidation would be seen today... or even back to the downside below 50% Fibonacci (1654.)

GOLD | Update | 29.03.12

Gold price was testing to break yesterday Low around 1654, but MACD still pointing up so far. The scenario remains the same as my previous analysis.

GOLD | Daily Range | 29.03.12

After being in consolidation phase in early session, gold price finally declined on US session. That brought the price remains to be on the down side as the bullish has not confirmed yet on the bigger time frame. The price needs to get higher and stable above 1668 (50% Fibonacci) and MACD has to be crossed the zero line to get back on the upside and continues the up movement, otherwise it will be testing the yesterday Low or even lower.

GOLD | Update | 28.03.12

Gold price is still on consolidation phase, see my previous post. I personally will stay aside on this kind of market situation. Remember, no position is also a position.

GOLD | Daily Range | 28.03.12

After losing its bullish momentum and failed to break resistance around 1694, gold flipped back to the downside. More consolidation would be seen today. As long as the price remains above 1648 (50% Fibonacci based on weekly range, see image on the left), then we're still on the bullish scenario. Otherwise, the bear will be back for the rest of the week.

GOLD | Update | 27.03.12

Gold price has been testing to breach yesterday High on early session and it went up as far as around 1695 (read my previous analysis). This level is around 161.8% Fibonacci based on weekly range on time frame 4H (left) while it is about 100% Fibonacci based on daily range on time frame 1H (right). Break this level then the next target would be around 1702 - 1715. Otherwise more consolidation would be seen or even break the 50% Fibonacci and flip back to the down side for short term period. Please noted that this bullish hasn't been confirmed on bigger time frame.

GOLD | Daily Range | 27.03.12

After its inclined yesterday, Gold price might have some correction or consolidation today as MACD has already crossed and pointing down. The retracement should be as far as 50% Fibonacci at around 1673, breach and remain below that level would bring the price back to the downside for the short term.

GOLD | Update | 26.03.12

Gold inclined drastically and breached the neckline (see weekly outlook). It seems like the price will continue its uptrend but might be limited at around 1688 - 1694 area and then some consolidation will be seen for the rest of the session.

GOLD | Weekly Outlook

Gold is potentially going up this week, but it needs to go down a little bit for some correction and consolidation before it continues further up. This scenario is supported with Bullish Divergence with neckline around 1668 (thick red line) as the bullish confirmation . As long as the price doesn't break and remains below 50% Fibonacci then this scenario will valid through the week. Otherwise the price will flip back to the downside and testing last week Low.

GOLD | Daily Range | 23.03.12

As I mentioned on my previous post yesterday, the gold price would be stop around 1627 on 224% Fibonacci and flipped back to the upside and attempts to test yesterday High today. If the price breaks that level then it might be the beginning of the uptrend in medium term. But if the price flips back and remains below 50% Fibonacci then it will test the yesterday Low and the next target would be 1619 - 1610.

GOLD | Update | 22.03.12

Gold finally shows its movement. It breached yesterday Low at around 1645 (see morning post) and it is still hovering around 161.8% Fibonacci (time frame 1H) or 100% Fibonacci based on weekly range on time frame 4H (last week Low). The price seems to continue its bearish and the next target would be around 1627.

GOLD | Daily Range | 22.03.12

Just what I thought... the price ended up going nowhere yesterday (see previous post). In fact the price hasn't been going anywhere since March 14. More consolidation would be seen today before it breaks either the yesterday High (1661) or Low (1645)

GOLD | Update | 21.03.12

Gold price did break 50% Fibonacci at 1652 but was not able to stay above it, instead it went back down below that level in several hours. MACD is about pointing down and about to cross at this moment. Personally I would stay aside until it confirms where the price might go.

GOLD | Daily Range | 21.03.12

Gold couldn't breach the level of 161.8% Fibonacci yesterday and went up for some corrections. Some consolidations might be seen today before it continues going down to test yesterday Low at around 1641or even lower at 1634 - 1627.

If the price breaks and remains above 50% Fibonacci, then the price might flip back to the up side.

GOLD | Update | 20.03.12

After its sharply declined, gold price is on consolidation phase at this moment, but it is potentially continues going even further down considering that MACD on time frame 4H is heading down and about to cross. If the price breaches 127% Fibonacci on time frame 1H then the next target would be around 1641 or even 1633.

GOLD | Daily Range | 20.03.12

Gold price moved in narrow range yesterday, and today it seems like it attempts to test yesterday Low (1651) or even lower at last week Low (1633). The price will flip back to the upside and continuous testing yesterday High (1668) or even higher if it breaches and remains above the 50% Fibonacci.

GOLD | Update | 19.03.12

Gold declined seems limited by the 50% Fibonacci and it will going back up if the price losing its bearish momentum as the scenario on my previous post earlier today for gold weekly outlook. But if the price breaks the 50% Fibonacci at around 1651 and remains below that level then it will test the last Friday Low at around 1639.

GOLD | Weekly Outlook

Gold price is on its retracement phase for the several days before it continuous going back down later this week. The price has already formed a Higher Low (HL) and MACD has already crossed and heading up as well.

But please noted that if the price breaches the 50% of Fibonacci at around 1674 and it remains above that level, then Gold price might be considered begins its uptrend and testing last week High at around 1715, and please check MACD whether it crosses the zero line or not.

GOLD | Update | 16.03.12

Gold failed to break yesterday High (1665) and flip back below 50% Fibonacci instead and try to test yesterday Low (1635). Break and remains below this level will continue its bearish with target at 1627 - 1616. But if it fails, then Gold might going back up for the rest of the day....

GOLD | Daily Range | 16.03.12

Gold is likely continuing its bullish movement since MACD already crossed over the zero line and the price is above 50% of Fibonacci based on daily range, unless the price turns back below 50% and remains below it considering that we are still on bearish scenario on the bigger Time Frame.

GOLD | Update | 15.03.12

The scenario hasn't been changed up to this minute on Gold. The price is still on its consolidation. Stay aside for awhile before the moment comes. See my previous post earlier today.

GOLD | Daily Range | 15.03.12

Gold price declined sharply yesterday. Some consolidation might be seen today before it continues to go lower... BUT this scenario will no longer valid if the price breaks 50% Fibonacci and remains above that level, also MACD cross over the zero line. That case the price flip back to the upside and attempts to test yesterday High at 1681.

GOLD | Update | 14.03.12

The Double Bottom scenario on previous post is no longer valid. The price broke yesterday Low at 1661 and now forming Bullish Divergence on time frame 4H.

GOLD | Daily Range | 14.03.12

Gold has potentially Double Bottom, but as long as the price remains below 1689, then the bear still in action for the rest of the week.

GOLD | Update | 13.03.12

Gold was losing its bullish momentum and failed to stay above 1703, now flip back to the down side. See the previous post for the morning analysis.

GOLD | Daily Range | 13.03.12

Gold price failed to stay below 1695 yesterday. Today gold price likely to move up and it will continue as long as remains above 1703 and MACD cross over the zero line