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Gold Price Lots of Upside Potential

$XAU #Gold #Commodities #FX #Trading #Markets

Gold
Ticker: XAU=
Price: $1885.55

Gold News

Gold prices are moderately higher to begin the week, as the weekend break seems to have given global investors time to shake off some of last week’s doom and gloom, reflected in a mild rebound in risk appetite since markets reopened yesterday evening.

Equity markets are on the rise, with the major overseas indices in the green and US benchmarks having recently opened to gains of 1% and higher. This is alleviating a lot of last week’s pressure on the precious metals, with gold spot prices tipped back towards $1870/oz while silver’s chart is attempting to consolidate above $23.

Technical Indicators

Overall, the bias in prices is: Sideways.

The projected upper bound is: 1,967.55.

The projected lower bound is: 1,803.52.

The projected closing price is: 1,885.53.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 34.9044. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 41.30. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 35 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -65. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 7 period(s) ago.

Rex Takasugi – TD Profile

PREC.M.XAU= closed up 3.822 at 1,884.673. Volume was 8,900% above average (trending) and Bollinger Bands were 1% narrower than normal.

Open        High       Low        Close         Volume
1,880.590   1,886.790  1,878.100  1,884.673     15,419
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           1,902.06      1,944.71       1,729.28
Volatility:      18            27             23
Volume:          1,542         308            77

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

PREC.M.XAU= is currently 9.0% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.

Our volume indicators reflect very strong flows of volume into XAU= (bullish). Our trend forecasting oscillators are currently bearish on XAU= and have had this outlook for the last 25 periods.

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HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.
HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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