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Technical Analysis on the Gold Futures Market |
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Technical Analysis on the Gold Futures Market
For the latest technical analysis see Gold Futures Market Spread Betting Analysis.
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09 March 2012 update -
The gold spread betting market closed higher due to short covering on Thursday and the high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20 day moving average crossing would temper the near-term bearish outlook.
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08 March 2012 update -
The gold market closed higher due to short covering on Wednesday as it consolidates some of the decline off February's high. The high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20 day moving average crossing would temper the near-term bearish outlook.
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07 March 2012 update -
The gold spread betting market closed lower on Tuesday and the low-range close sets the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends last Wednesday's decline, the reaction low crossing is the next downside target. Closes above the 10 day moving average crossing would temper the near-term bearish outlook.
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06 March 2012 update -
The gold spread betting market closed lower on Monday and is poised to extend last Wednesday's decline. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends last Wednesday's decline, the reaction low crossing is the next downside target. Closes above the 10 day moving average crossing would temper the near-term bearish outlook.
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05 March 2012 update -
The gold spread betting market closed lower on Friday and is poised to extend Wednesday's decline. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. If it extends Wednesday's decline, the reaction low crossing is the next downside target. Closes above the 10 day moving average crossing would temper the near-term bearish outlook.
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02 March 2012 update -
The gold spread betting market closed higher due to short covering on Thursday as it consolidates some of Wednesday's decline. The high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are possible near-term. If it extends Wednesday's decline, the reaction low crossing is the next downside target. Closes above the 10 day moving average crossing would temper the near-term bearish outlook.
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01 March 2012 update -
The gold spread betting market closed sharply lower on Wednesday and below the 20 day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are possible near-term. If it renews the rally off December's low, the 75% retracement level of the September-December decline crossing is the next upside target.
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29 February 2012 update -
The gold spread betting market closed higher on Tuesday and the high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off December's low, the 75% retracement level of the September-December decline crossing is the next upside target. Closes below the reaction low crossing are needed to confirm that a short-term top has been posted.
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28 February 2012 update -
The gold spread betting market closed lower due to profit taking on Monday and the low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off December's low, the 75% retracement level of the September-December decline crossing is the next upside target. Closes below the reaction low crossing are needed to confirm that a short-term top has been posted.
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27 February 2012 update -
The gold spread betting market closed lower on Friday and the low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off December's low, the 75% retracement level of the September-December decline crossing is the next upside target. Closes below the reaction low crossing are needed to confirm that a short-term top has been posted.
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With financial spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital. Please familiarise yourself with the risks that are involved and before trading, ensure that financial spread betting matches your investment objectives. Seek independent advice where necessary.
Technical Analysis on the Gold Futures Market - edited by PipTrade, 09 March 2012.
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With spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital so please familiarise yourself with the risks that are involved and, before trading, ensure that spread betting matches your investment objectives. Seek independent advice where necessary.
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* Based on current UK tax law. Tax law may change and can differ depending on your personal circumstances.
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