Gold The gold market drifted a bit lower to bounce back around the $1250 level. The calmness in the market can be guessed due to outcome before FOMC
The gold market drifted a bit lower to bounce back around the $1250 level. The calmness in the market can be guessed due to outcome before FOMC statement. The market will take a cue from here and decide on the course of direction to follow. Hawkish statement from FOMC will drive the price lower towards the $1200 level and otherwise, it will prepare for the $1300 level. Markets will remain volatile in short term but will have clear direction to proceed to next level. …Read More
All the precious metal pack traded on a cautious note previous to FOMC statement. The metal pack looks promising due to global economic conditions and the weak dollar. The silver on Wednesday fell initially to bounce back towards $16.50 level which has offered a bit of resistance. The market will remain volatile and breakout above $16.60 will take the price much higher towards $17 level. …Read More
The market was very volatile during yesterday’s session, initially moving in a sideways direction to find buyers to take it towards $49 level. In short term, there will bullish pressure but the market looks weak in the long term due to oversupply in the market. Cut in production by OPEC members will not affect the market as shale producers will increase their output. And, FOMC statement will also have some effect on the prices. …Read More
The weakness in the market continued on Wednesday’s trade after it faced tough resistance in $2.95 level. Selling pressure to continue in the market with $2.85 acting as immediate support. The negative fundamentals in like oversupply, lack of demand will continue to weigh down the market. The market will continue “Sell on Rallies” and if we breakdown below $2.75 level, the market should go below $2.50. …Read More
Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.