Oil & Gold (XAU) found support just above $1700 and bulls caught the market short quickly popping back to $1718. OIL/USD fell even with the large storms in the Atlantic finding support at $85.
XAU Trading Outlook Archive
Oil & Gold (XAU) Trading Outlook (29-10-2012)
October 29, 2012Oil & Gold (XAU) Trading Outlook (26-10-2012)
October 26, 2012Oil & Gold (XAU) held above $1700 consolidating the recent losses and bouncing to $1715 by the close. OIL/USD consolidated the recent slump grinding back above $86 but very fragile still.
Oil & Gold (XAU) Trading Outlook (25-10-2012)
October 25, 2012Oil & Gold (XAU) the FOMC had little impact with no changes to policy so Gold remained pressured at the $1700 level. Buyers have defending the level so far but a break below would open up a move towards $1660. OIL/USD continued to slump falling… Read more
Oil & Gold (XAU) Trading Outlook (24-10-2012)
October 24, 2012Oil & Gold (XAU) Gold failed at the $1730 level and fell sharply to the $1700 level before bouncing back in Asia so far to $1710. The FOMC is critical for Gold’s next move. OIL/USD led the market lower with some traders now looking to… Read more
Oil & Gold (XAU) Trading Outlook (23-10-2012)
October 23, 2012Oil & Gold (XAU) Gold stabilized with the break of the key $1730 level failing to lead to a major move lower. After stabilizing we have grinded back to the $1730. OIL/USD found resistance near $91 and fell sharply back to $89 as the selloff… Read more
Oil & Gold (XAU) Trading Outlook (22-10-2012)
October 22, 2012Oil & Gold (XAU) Gold crashed lower on Friday breaking through key technical support at $1730 and remains under pressure in Asia Monday. OIL/USD reversed below $90 a barrel as support evaporated.
Oil & Gold (XAU) Trading Outlook (19-10-2012)
October 19, 2012Oil & Gold (XAU) Gold failed to break past resistance above $1750 and pulled back with the rest of the market in the US session. OIL/USD was steady with support under $92 holding for now.
Oil & Gold (XAU) Trading Outlook (18-10-2012)
October 18, 2012Oil & Gold (XAU) Gold consolidated at the $1750 level not participating in today’s USD weakness. OIL/USD was also sidelined pulling back just below $92 a barrel.
Oil & Gold (XAU) Trading Outlook (17-10-2012)
October 17, 2012Oil & Gold (XAU) Gold moved back to $1750 as the USD weakened across the board. OIL/USD moved higher but not aggressively to $92.50.
Oil & Gold (XAU) Trading Outlook (16-10-2012)
October 16, 2012Oil & Gold (XAU) Gold’s cleanout continued with the market sold from the open to fall to $1730 supports in the US session. The longer term uptrend is under threat with support being tested. OIL/USD gained but was not aggressive closing just under $92 a… Read more
